Measures to improve economic sustainability. Economic sustainability of the enterprise. The essence of economic sustainability

Send your good work in the knowledge base is simple. Use the form below

Students, graduate students, young scientists who use the knowledge base in their studies and work will be very grateful to you.

Introduction

In market relations, an enterprise occupies a special place; by definition, it is a separate specialized unit, the basis of which is a professionally organized labor collective, capable, with the help of the means of production at its disposal, to produce products of the appropriate profile and assortment needed by consumers. An indicator of market stability is the ability of an enterprise to develop successfully in conditions of changing external and internal environments. The peculiarity of the functioning of industrial enterprises in modern conditions is their constant dependence on all subjects of the total infrastructure. The enterprise is in the process of production economic activity constantly enters into direct and indirect relationships with suppliers of raw materials, components, consumers of finished products and competitors. The latter, based on the goal of any enterprise - to retain their consumers, try to strengthen their position in the market, thereby weakening the position of other enterprises. In such conditions, their activities cannot be protected from unwanted shocks. But it is the strong position of the enterprise in the market that is the key to the survival of the enterprise. Therefore, problems arise in protecting the enterprise’s activities from the negative influences of the external environment, as well as the ability to quickly eliminate various threats or adapt to existing conditions that do not negatively affect its activities. The solution to these issues represents the economic security of the enterprise. Thus, the relevance of this topic is justified by the need to create a system of measures that could ensure economic stability (enterprise sustainability). This work is devoted to the latter problem.

The significance of the study of economic sustainability is explained by the fact that it is the basis on which the main directions of the financial and economic policy of the enterprise are developed, and the effectiveness of management decisions depends on how well it is carried out. Currently, first of all, it is necessary to achieve confidence in the actions of enterprises in market conditions. Therefore, this work is aimed at improving the situation.

In modern economic literature, there is no clear definition of the concept of “economic sustainability”, and different opinions are expressed on the set of indicators that allow it to be determined. These circumstances have led to a certain scientific interest in the study of this problem. In particular, the works of scientists Yu.P. are devoted to many aspects of this problem. Anisimova, A.S. Bulatova, I.A. Blanca, S.N. Chuprova, B.N. Gerasimova, M.N. Rubtsova, I.N. Omelchenko, P.V. Okladsky.

The purpose of the thesis is to consider the theoretical aspects of the study of the economic sustainability of an enterprise, in accordance with them, to develop recommendations for increasing the economic sustainability of a particular enterprise.

To achieve this goal, it is necessary to complete the following tasks:

1) consider the concepts of economic sustainability from the point of view of various authors;

2) identify a set of external and internal factors that determine the economic sustainability of the enterprise;

3) explore methodological approaches to assessing the economic sustainability of an enterprise;

4) conduct an analysis of economic sustainability at a specific enterprise;

5) identify ways to increase the economic sustainability of the enterprise.

The subject of the thesis research is the economic sustainability of the enterprise, methods of its determination and assessment.

The object of the study is the machine-building enterprise OJSC Vodmashoborudovanie.

The theoretical and methodological basis of the work was the fundamental provisions of economic theory, legislative normative documents of the bodies of the Russian Federation, and the results of scientific research by Russian and foreign scientists.

The information base of the thesis is the following data:

1) Balance sheet (form No. 1);

2) Profit and loss statement (form No. 2);

3) Capital flow statement (form No. 3);

4) Cash flow statement (form No. 4);

5) Appendix to the balance sheet (form No. 5);

6) Information from periodicals and Internet sites.

During the analysis, materials from the financial and economic activities of enterprises and periodical press data were used. A systematic approach, methods of economic-statistical, financial analysis, economic-mathematical modeling using a PC and MS Excel software were used as methodological tools for solving assigned problems at various stages of the study.

1 . Theoretical provisions for studying the economic sustainability of an enterprise

1.1 The concept of economic sustainability of an enterprise

Currently, under the influence of environmental conditions, enterprises are becoming more complex systems. The process of integration of business units through mergers and acquisitions is underway. This happens on both a voluntary and compulsory basis. All this places new demands on methods of managing enterprises in modern conditions. In this regard, one of the most important issues for any modern enterprise is to ensure its economic sustainability in the short and long term.

For the first time, the term “economic sustainability” arose in connection with the consideration of the problem of limited resources, which was a consequence of the global energy crises of 1973 and 1979. then this direction of economic thought turns into a separate discipline, which is called “ecosestate”, which means the economic sustainability of the state. It began to consider issues of sustainable economic development mainly at the country or regional level.

However, recently it has become increasingly obvious that sustainable economic development of both the country and its regions is achievable only with the economic sustainability of such structural elements as industries, enterprises and organizations. The economic sustainability of each individual enterprise allows the entire economic system of the country not only to maintain its potential, but also to ensure its qualitative growth and entry into international markets with new competitive products.

Currently, there are many points of view from various authors on the definition of the concept of “economic sustainability of an enterprise.” Some of them are presented in Table 1.

Table 1 - Approaches to defining the concept of “economic sustainability of an enterprise”

In order to formulate your own concept of economic sustainability, it is necessary to analyze the components of this concept.

The management system (of the enterprise) must ensure acceptable efficiency within the limits of existing deviations, which can be characterized as a state of equilibrium or stability.

There are different interpretations of the concept of “enterprise sustainability”. Thus, in the Big Encyclopedic Dictionary, “a sustainable enterprise is a legal entity whose structure of the ratio of assets and liabilities is such that, under all normal conditions, the proceeds from the sale or use of assets are sufficient to cover all liabilities,” and in the Big Economic Dictionary, sustainability is considered as resilience , permanence, not exposed to the risk of losses and damages. Proponents of system analysis substantiated the conclusion that “stability” should be defined as a certain regular repeatability (i.e., the property of repeating itself unchanged) and, accordingly, instability - as a condition that occurs sporadically and may not be repeated. From the standpoint of the theory of profit maximization, the proponents of which were A. Smith, A. Marshall, D. Keynes and other well-known economists, the steady state of an enterprise is its state in which it is able to maintain profit at a given level. V.Loginov, A.T. Cheblokov understands the sustainability of an enterprise as a complex of properties of its production, innovation, organizational, financial and credit activities, their mutual influence and interaction, the quality and novelty of products, the scientific and technical level of the enterprise’s material and technical base, the stability of its resource supply, the state of personnel and intellectual potential , the nature of innovation management. AND I. Bogdanov believes that the sustainability of an enterprise reflects the strength and reliability of its elements, vertical, horizontal and other connections within the system, and the ability to withstand internal and external loads.

V. Solntsev believes that an enterprise is sustainable when it makes a profit; if it does not, then the losses incurred by it are an indicator of low performance. And it must change its economic policy, reduce costs, reduce the number of employees, or take other measures to improve its health. Otherwise, it will go bankrupt and disappear from the market. V. Lapin believes that sustainability primarily depends on competent enterprise management. L.N. Khramova understands a stable state as the ability of a system to function stably in a dynamic external environment by achieving its maximum organization (correspondence of the internal elements of the system to each other and to the parameters of the external environment. The above definitions consider stability as the ability of a system to maintain its existence (function stably).

Thus, stability characterizes the state of an object in relation to external influences. A more stable state is one that, under equal external influences and internal shifts, is subject to fewer changes and deviations from the previous one. The condition for resistance to external influences is the internal properties of the object itself. Stability is an external manifestation of the internal structure of an object. In order to increase its resistance to various factors, it is necessary, first of all, to improve the object itself.

The stability of an economic entity is a set of individual, single and partial equilibria. It is higher when the totality of stable equilibria of an economic entity exceeds the number of unstable ones. The economic condition of an enterprise can vary from extremely unstable, in which it is on the verge of bankruptcy, to relatively stable.

In the event of a violation of stability, the direction of the process is essential: increasing instability or weakening it. At the level of economic entities, conflict can also be a source of progressive development, although the competitive environment reproduced on the basis of supply and demand constantly upsets the balance, undermines the economic stability of some, while simultaneously increasing the stability of other entities.

IN general view the state of stability of an economic system is understood as its ability, after an unfavorable deviation beyond the permissible value, to return to a state of equilibrium at the expense of its own and borrowed resources.

I believe that economic sustainability implies not only maintaining a positive level of indicators that characterize it, but also includes development, which is manifested in economic growth, i.e. trends in positive changes in the overall development indicators of an enterprise over a certain period of time, usually a year. To characterize economic growth, both general and specific indicators are used.

It is worth considering the definitions of the concept of financial stability, or financial sustainability, from the point of view of various authors, presented in Table 2.

Table 2 - Definitions of the concept of “financial stability” (or “financial stability”)

Having compared the concepts of economic sustainability and financial stability (stability), we can conclude that most authors identify these concepts. The rationale for this is the statement that the position of an enterprise in the market, first of all, depends on the availability and directions of use of financial resources. Assessing the financial situation of an enterprise makes it possible to identify bottlenecks in business activities, as well as find ways to prevent unfavorable trends in the development of the enterprise. Thus, the financial stability of the enterprise allows us to objectively evaluate the tactics of enterprise management.

Let's consider the mechanism for managing economic sustainability at an enterprise, presented in Figure 1.

Governing body ( organizational structure control) ensures that deviations from the specified system parameters are kept within acceptable values ​​and time intervals. The stability of an organizational management system is the ability to maintain a control object in the area of ​​equilibrium provided for by the rules of operation.

Figure 1 - Control system stability

The sustainable operation of an enterprise depends on its internal capabilities to effectively use all the resources at its disposal, so it is necessary to find out what is meant by economic resources.

Economic resources refer to all natural, human and human-made resources that are used to produce goods and services. They are presented in Figure 2.

Economic resources refer to all types of resources used in the production of goods and services. In essence, these are goods that are used to produce other goods. Therefore, they are often called production resources, production factors, factors of production, factors of economic growth.

Figure 2 - Types of economic resources

In essence, these are goods that are used to produce other goods. Therefore, they are often called production resources, factors of economic growth. The production resources of the enterprise in material and monetary form are presented in Table 3.

Table 3 - Production resources of the enterprise

Thus, the concept of economic sustainability of an enterprise can be formulated as an equilibrium balanced state of economic resources, which ensures stable profitability and normal conditions for sustainable economic growth in the long term, taking into account the most important external and internal factors.

As a result of the consideration in this section of the concept of economic sustainability, the position was substantiated that one of the most important problems for modern enterprises is ensuring their economic sustainability in the short and long term. The points of view of various authors on the concept of “economic sustainability” were also analyzed. Based on a comparison of them with the content of the concept of “financial stability”, a conclusion was made about the identity of both concepts, and a rationale for it was also given. The mechanism for managing economic sustainability is analyzed and our own definition of the concept under consideration is given, based not only on maintaining a positive level of economic sustainability indicators, but also on its growth.

1.2 Factors determining the economic sustainability of an enterprise

Economic sustainability is formed under the influence of a complex of factors. Their relationship, interaction, and interconnection are extremely important and relevant not only for individual subjects, but also for the entire economic system. Over time, the influence of some factors increases, while others weaken.

There are different approaches to classifying factors influencing economic sustainability. The most common is a classification that subdivides all factors according to the ways they influence factors of direct and indirect influence. It is presented in Figure 3.

Figure 3 - Factors influencing economic sustainability, depending on the type of impact

The enterprise's response to factors of direct and indirect impact is different. An enterprise can react to changes in direct impact factors in two ways: it can rebuild its internal environment and begin a policy of both adaptation and a policy of active or passive resistance. The enterprise is forced to adapt its goals, objectives, structure, technology, and personnel to the factors of indirect impact.

There is a classification that divides all factors into two main groups - internal and external to the enterprise. It is presented in Figure 4.

Posted on http://www.allbest.ru/

Figure 4 - Factors influencing economic sustainability, depending on the type of environment

Environmental factors have different levels and directions of influence. They can be divided into three levels: regional, national and international. In their orientation, the factors are stabilizing and destabilizing.

Based on dynamics external factors strong and weak sides the position of the enterprise in a developing market, proactive measures for its development are developed and appropriate management decisions are made. The impact of external environmental factors significantly makes the balance and stability of economic entities and industries less stable, leading to an increase in the dependence of the national economy as a whole on them.

The ability of an enterprise to overcome crises, win competition, and maintain economic stability largely depends on the action of an internal group of factors - on the state of its internal environment. The internal group of factors includes goals, objectives, structure, technology, personnel of the enterprise, production capacity and potential of the enterprise.

In countries with stable economies, the ratio of external and internal factors is in favor of the latter. Thus, an analysis of the bankruptcy of enterprises in developed countries shows that 1/3 external and 2/3 internal factors are involved in bankruptcy. In a stable economy, the main obstacles hindering the development of an enterprise, as a rule, lie in the sphere of its own activities and contain internal discrepancies and contradictions regarding the goals of the enterprise, the means to achieve them, resources, methods of organizing activities, and management to achieve goals.

Ensuring economic sustainability will require enterprises to forecast and comprehensively take into account market requirements, the actions of competitors, suppliers, and macroeconomic conditions. economic environment conducting business, organizing management based on a strategic approach.

This approach will allow enterprises to take into account external and internal environmental factors and develop comprehensive measures that take into account long-term strategic goals for the further sustainable development of the enterprise.

The main problems of the economic sustainability of industrial enterprises that hinder their development and functioning in modern conditions are:

a) a high degree of depreciation of fixed assets and a shortage of investment resources;

c) high energy intensity of energy systems, several times higher than the specific energy intensity of the economies of developed countries;

d) lack of developed and stable legislation adapted to the conditions and specifics of the functioning of industrial enterprises.

This variety of factors also divides resistance itself by type. So, in relation to an enterprise, it can be: depending on the factors influencing it: internal and external, general (price), financial.

1 Internal stability is the general financial condition of an enterprise that ensures consistently high results of its functioning. Its achievement is based on the principle of active response to changes in internal and external factors.

2 The external stability of an enterprise is determined by the stability of the economic environment within which its activities are carried out. It is achieved by an appropriate system of market economy management throughout the country.

3 The overall sustainability of an enterprise in market conditions requires, first of all, stable receipt of revenue, and sufficient in size to pay off the state, suppliers, creditors, and employees. At the same time, for the development of an enterprise, it is necessary that after all payments are made and all obligations are fulfilled, it remains profitable, allowing it to develop production, modernize its material and technical base, and improve the social climate of the enterprise. In other words, the overall sustainability of an enterprise presupposes, first of all, such a movement of cash flows that ensures a constant excess of the receipt of funds (income) over their expenditure (costs).

4 Financial stability is a reflection of the stable excess of income over expenses, ensures free maneuvering of the enterprise’s funds and, through their effective use, contributes to the uninterrupted process of production and sales of products. Therefore, financial stability is formed in the process of all production and economic activities and is the main component of the overall sustainability of the enterprise. Financial stability is characterized by the state and structure of the organization’s assets and their availability of sources. It is the main criterion for the reliability of an organization as a commercial partner. The study of financial stability allows us to assess the organization’s ability to ensure the uninterrupted process of financial and economic activities and the degree to which funds invested in assets are covered by its own sources.

The classification, which is based on the factors contributing to the bankruptcy of an enterprise, is of interest, since it is it that is more consistent with the approach I have chosen to study the economic sustainability of an enterprise. It is presented in Appendix M.

Bankruptcy is understood as the inability of an enterprise to satisfy creditors' demands for payment for goods (works, services), including the inability to ensure mandatory payments to the budget and extra-budgetary funds.

This choice is motivated by the fact that bankruptcy is based primarily on financial reasons that disrupt the equilibrium state of economic resources, thereby undermining the economic sustainability of the enterprise.

From the standpoint of determining the economic stability of an enterprise, bankruptcy characterizes an imbalance of economic resources. The main reasons include:

A serious violation of the financial stability of the enterprise, interfering with the normal implementation of its economic activities. The realization of this catastrophic risk is characterized by the excess of the enterprise's financial liabilities over its assets;

Significant imbalance over a relatively long period of cash flow volumes. The realization of this catastrophic risk is characterized by a prolonged excess of the volume of negative cash flow over the positive one and the absence of prospects for reversing this negative trend;

Prolonged insolvency of an enterprise caused by the low liquidity of its assets. The realization of this catastrophic risk is characterized by a significant excess of the enterprise's urgent financial obligations over the amount of the balance of its cash and assets in highly liquid form, which is chronic.

In the process of studying and assessing, factors contributing to the bankruptcy of a company are divided into two groups:

a) independent of the activities of the enterprise (external or exogenous factors):

1) general economic factors;

2) market factors;

3) other factors.

b) depending on the activities of the enterprise (internal or endogenous factors):

1) operational factors;

2) investment factors;

3) financial factors.

Factors contributing to the bankruptcy of an enterprise can be classified depending on the stage of the enterprise's life cycle. This approach is based on the concept of “competitive advantage of a company,” which presupposes a stable financial position of the company, in which the needs for financial resources for current and, especially, for strategic, long-term development are satisfied fully and mainly through own funds. The life cycle of a firm's competitive advantage includes several stages.

The emergence of a company's competitive advantage. Investments are directed primarily to the most significant elements of strategic potential that can quickly create the basis for the company’s competitiveness. At the same time, the company makes efforts to find and implement the most preferable conditions for itself, formed by the determinants of the “national diamond”.

Accelerating the growth of the company's competitive advantage. This stage characterized by a significant increase in the strategic potential of the company due to the intensification of investment activity, stimulated by the parameters of demand for the company’s products. The individual elements of a company's strategic potential are combined into a system, and stable connections arise between them, allowing an effect of integrity to be obtained that significantly enhances the company's competitive advantage. In addition, the firm's interaction with related and supporting industries increases and the degree of aggressiveness of the firm's competitive strategy increases.

Slowdown in the growth of the company's competitive advantage. It may be a consequence of the beginning of penetration into the market by a larger number of competitors than before, and the emergence of stronger rivals. The company is forced to invest additional funds in updating the technical base, increasing the level of technology and production organization, and improving human resources. All this somewhat reduces the profitability of production. However, competitive rivalry is not yet strong enough to deprive a firm of leadership.

Maturity of the firm's competitive advantage. Occurs as a result of tension of all the main forces of the company. Some rival firms, unable to withstand the competition, left the market. The incident helped the company use unconventional means of production. The government changed monetary policy, which allowed the company to obtain, on more favorable terms, the credit necessary to maintain the most important elements of its strategic potential at an appropriate level. All this made it possible to achieve the highest level of knowledge of the company’s competitive advantage and maintain maximum productivity in the use of its resources over a certain period. At the same time, by the end of this period, negative trends became noticeable, indicating the “beginning of the end” of competitive advantage - more powerful rivals began to occupy a dominant position in the market.

Decline (loss) of the company's competitive advantage. It occurs due to the aggressive policies of rival firms, as well as due to the increasing aging of the company. This applies to both material (material) and human, information, and organizational resources. The management and management services of the company were unable to timely take adequate measures for a kind of remarketing or supporting marketing of the company's competitive advantage.

Taking into account the stages of the life cycle of an enterprise's competitive advantage, Table 4 shows the factors contributing to the bankruptcy of an enterprise.

Table 4 - Factors contributing to the bankruptcy of an enterprise, depending on the stage of the enterprise’s life cycle

As a result of considering the factors influencing the economic sustainability of the enterprise, they were classified depending on the type of impact (direct and indirect impacts), on the type of environment (internal and external). The relationship between the life cycle of an enterprise and factors influencing the decline in economic sustainability is considered. For the purpose of use in this study, a classification was chosen, which is based on the identification of factors contributing to the bankruptcy of an enterprise.

1.3 Methods and indicators for assessing the economic sustainability of an enterprise

The level of economic sustainability can be assessed using various methods of financial analysis. Financial analysis is a method of assessing and forecasting the financial condition of an enterprise based on its financial statements; the process of studying the financial condition and main results of the financial activities of an enterprise in order to identify reserves for further increasing its market value. Financial analysis can be defined as a way of accumulating, transforming and using financial information with a purpose. The functions of financial analysis are presented in Figure 5.

Posted on http://www.allbest.ru/

Figure 5 - Financial analysis functions

The main methods for analyzing the financial condition of an enterprise include:

Horizontal (temporal) - comparison of each reporting item with the previous period. Horizontal analysis consists of constructing one or more analytical tables in which absolute balance sheet indicators are supplemented by relative growth (decrease) rates;

Vertical (structural) - definition of structure financial indicators identifying the impact of each reporting item on the result as a whole. Such an analysis allows you to see the specific weight of each balance sheet item in its overall total;

Trend analysis - comparison of each reporting item with a number of previous periods and determination of the trend, i.e. the main trend of the indicator dynamics, cleared of random influences and individual characteristics separate periods. With the help of a trend, possible values ​​of indicators are formed, and therefore a promising, predictive analysis is carried out;

Coefficient - calculation of reporting relationships, determination of the relationship between indicators;

Comparative (spatial) analysis - analysis of individual financial indicators of subsidiaries, divisions, workshops, as well as comparison of financial indicators with those of competitors, with industry average and general economic data;

Factor analysis is an analysis of the influence of individual factors (reasons) on an effective indicator. Factor analysis can be either direct, i.e. splitting the effective indicator into its component parts and the reverse (synthesis), i.e. connection of its individual elements into a common performance indicator.

In the process of assessing and analyzing financial resources, various analysis techniques are used. The method of analysis is a way of studying the dynamics of an economic indicator and the reasons for this dynamics.

The main methods of financial analysis are: comparison of indicators, summary and grouping, calculation of average indicators and relative values, balance sheet matching, elimination (chain substitution method, difference method, balance method, equity method, integral method), graphic method, correlation and regression analysis. Characteristics of analysis techniques are presented in Appendix H.

The principles on which the methodology for assessing the economic sustainability of an enterprise should be based are presented in Appendix O. The main ones are the principle of reliability, sufficiency, efficiency, priority, and resource availability.

The problem of determining the level of economic sustainability has not yet been sufficiently studied. Based on different approaches to defining the concept of “economic sustainability,” the authors propose various methods for assessing economic sustainability.

There is the following series of approaches to assessing financial stability, presented in Appendix P.

One of the criteria for assessing the financial stability of an organization is the surplus or lack of sources of funds for the formation of reserves (material working capital).

In the works of M.I. Bakanova, A.D. Sheremet, V.V. Kovalev and other scientists indicate that the provision of reserves with sources of formation is the essence of financial stability, while solvency is its external manifestation.

There are usually four types of financial stability.

1 Absolute stability of the financial condition is observed when the amount of own working capital and short-term loans and borrowed funds exceeds the need for inventories, and is calculated using formula (1):

where Ko is the coefficient of supply of reserves with sources of funds

2 Normal stability, the value of which guarantees payment, is shown in formula (3):

The volume of reserves allows you to cover short-term loans and borrowings and have your own working capital.

3 An unstable financial condition in which the balance of payments is disrupted, but it remains possible to restore the balance of means of payment and payment obligations by attracting temporarily free sources of funds into the organization’s circulation (reserve capital, accumulation and consumption fund, bank loans and borrowed funds for temporary replenishment of working capital and etc. - sources that ease financial tension) is presented in formula (4):

The balance of payments in this situation can be achieved through overdue payments for wages, bank loans and borrowed funds, suppliers, taxes and fees, etc.

Abryutina M.S. considers assessing the level of economic sustainability within the framework of express analysis, which assumes a scale of financial and economic sustainability based on deviations from the equilibrium point. This technique is based on the assertion that for each economic entity an individual point of financial and economic equilibrium can be determined. It is not expressed in the fact that of this subject there are no debts (liabilities) at all and all capital in circulation is equity, but the fact is that equity capital is sufficient to finance non-financial (productive, real) assets. Then there will certainly be enough financial assets to cover all liabilities, since the sum of all economic assets and total capital are the same. Equilibrium means that even in the event of force majeure, this enterprise will be able to repay all debts in a short time, without resorting to the urgent sale of inventories or equipment, which would disrupt the course of production and could cause losses. One of the central concepts that the author operates on is the concept of an indicator of financial and economic stability (FES) of an enterprise in the express analysis system. In this case, formula (6) of financial and economic stability has the form:

where I is the PMT indicator;

SK - equity capital;

NA - non-financial assets.

Kulbaka N.A. comes from the statement of the possibility of using bankruptcy diagnostic techniques to determine the economic stability of an enterprise. The business activity of joint-stock enterprises is characterized by the degree of sustainability of economic development or growth. Depending on the goals and methods of implementation, diagnostics of bankruptcy of an enterprise is divided into a system of express diagnostics of bankruptcy and a system of fundamental diagnostics of bankruptcy. Express diagnostics characterizes a system of regular assessment of crisis parameters of the financial development of an enterprise, carried out on the basis of its financial accounting data using standard analysis algorithms. In the process of analyzing individual aspects of the crisis financial development of an enterprise, standard methods of financial analysis are used. Thus, the bankruptcy express diagnostic system ensures early detection of signs of crisis development of an enterprise and allows prompt measures to be taken to neutralize them.

In case of a deep financial crisis or financial catastrophe, the express diagnostic system should be supplemented by a fundamental diagnostic system.

In the process of fundamental analysis, a number of basic methods are used.

1 Analysis of financial ratios characterizing the financial stability of the enterprise, its liquidity and solvency.

The stability of the financial condition, along with absolute indicators, is characterized by a system of financial ratios.

Relative financial stability ratios are shown in Table 5.

Table 5 - Relative coefficients of financial stability

Autonomy (financial independence) coefficient - characterizes the share of own funds in the total amount of assets.

Financial debt (financial risk) ratio - shows how much borrowed funds the company has attracted per 1 ruble. own funds invested in assets.

Self-financing coefficient - shows how many times the income from own sources of funds exceeds the borrowed resources attracted. The larger its value, the higher the level of self-financing.

Financial tension coefficient - shows how much borrowed funds are raised per 1 ruble. own capital.

Equity agility ratio - shows what part of equity capital is used to finance current activities, i.e. invested in working capital, in the most maneuverable part of assets.

The coefficient of provision of current assets with own working capital - characterizes the share of own working capital in all working capital of the enterprise.

The coefficient of coverage of inventories and costs with own working capital - characterizes the amount of coverage of inventories and costs with own working capital.

Real property coefficient - shows the share of means of production in the value of property, the level of production potential of the enterprise, the provision of means of production.

You should also analyze business activity indicators, the calculation method and essence of which are presented in the table in Appendix R.

To complete the assessment of economic sustainability, profitability indicators should be analyzed, the essence and calculation method of which is presented in Appendix C.

2 Comprehensive analysis based on the use of empirical coefficients.

An empirical assessment of the possibility of bankruptcy can be carried out on the basis of a foreign approach (the Z-account model of E. Altman), the model of O.P. Zaitseva and Saifullina.

The general economic meaning of E. Altman's Z-account model is a function of certain indicators characterizing the economic potential of an enterprise and the results of its work over the past period. The Z-score scale is presented in Table 6.

Formula (7) for calculating the modified five-factor Altman model has the form:

where X1 is working capital to the amount of assets of the enterprise. The indicator evaluates the amount of a company's net liquid assets in relation to total assets;

X2 - undistributed profit to the amount of assets of the enterprise, reflects the level of financial leverage of the company;

X3 - profit before tax to the total value of assets. The indicator reflects the efficiency of the company's operating activities;

X4 - book value of equity/debt capital;

X5 - sales volume to the total assets of the enterprise characterizes the profitability of the enterprise's assets.

Table 6 - Estimation of the probability of bankruptcy

Russian scientists R.S. Saifullin and G.G. Kadykov made an attempt to adapt E. Altman’s “Z-score” model to Russian conditions.

They proposed using a rating number, determined by formula (8), to assess the financial condition of enterprises:

where Ko is the equity ratio, defined as the ratio of own working capital to the amount of current assets of the enterprise (Ko>=0.1);

Ktl - current liquidity ratio (Ktl>=2);

Ki is the coefficient of intensity of turnover of the advanced capital, characterizing the volume of products sold per one ruble of funds invested in the activities of the enterprise (Ki>=2.5);

Km - management coefficient, characterizes the ratio of profit from sales to the amount of revenue from sales;

Kpr - return on equity - the ratio of book profit to equity capital (Kpr>=0.2).

If the financial ratios fully comply with their minimum standard levels, the rating number will be equal to one and the organization will have a satisfactory state of the economy. The financial condition of enterprises with a rating number of less than one is characterized as unsatisfactory.

The Beaver model allows you to assess the financial condition of a company from the point of view of its possible future bankruptcy. The bankruptcy risk assessment scale is based on a comparison of actual indicator values ​​with recommended ones. It is presented in Table 7. Column 3 - for successful enterprises, 4 - 5 years before bankruptcy, 5 - 1 year before bankruptcy. The probability of a company's bankruptcy is assessed according to one of the groups of possible states, where the majority of the calculated values ​​of the indicators are located.

Table 7 - W. Beaver’s system of indicators for diagnosing bankruptcy

In order for the analysis of the financial condition of the enterprise to be complete, an analysis of profitability and business activity should also be carried out. The indicators that need to be calculated for this are presented in Appendix P and C.

Fundamental bankruptcy diagnostics allows us to obtain the most comprehensive picture of the crisis financial state of an enterprise, and bankruptcy diagnostics should combine two main approaches to obtain a clearer picture.

3 Factor analysis, in which the influence of individual factors on the financial development of an enterprise is assessed.

An increase in the volume of activity of an enterprise (production and sales of products) depends on the growth of its property, i.e. assets. This requires additional financial resources. The influx of these resources can be ensured through internal and external sources of financing. Internal sources include, first of all, profit directed to the development of production (reinvested profit) and accrued depreciation. They replenish the company's own capital. But it can also be increased from the outside, by issuing shares. In addition, an additional influx of financial resources can be ensured by attracting sources such as bank loans, loans, and funds from creditors. At the same time, the growth of borrowed funds should be limited to a reasonable (optimal) limit, since with an increase in the share of borrowed capital, lending conditions become stricter, the enterprise incurs additional costs, and therefore the likelihood of bankruptcy increases. The sustainability of economic growth suggests that the company is not at risk of bankruptcy. Unsustainable development implies the possibility of bankruptcy. The economic growth sustainability coefficient shows the average rate at which the economic potential of an enterprise increases.

Factor analysis of the degree of sustainability of an enterprise's economic growth is carried out by the method of chain substitutions based on formula (9):

Similar documents

The essence and factors of economic sustainability, the system of its indicators and assessment methods. Analysis of the financial condition of the enterprise and its changes over the period by calculating indicators of liquidity, solvency, business activity, profitability.

thesis, added 06/23/2015


Specifics of analyzing the financial stability of an enterprise. A system of indicators reflecting the financial stability of the enterprise. Analysis of the financial stability of the enterprise. General assessment of the financial stability of OJSC "Arkhbum" and analysis of long-term prospects.

thesis, added 11/08/2002


Essence, main directions and methods of financial analysis. Status, problems and ways to improve them. Characteristics and organization of the enterprise's activities using the example of OJSC "Radiopribor" - analysis of liquidity, financial stability, profitability.

thesis, added 03/24/2011


Formation of financial stability of the enterprise. Organizational and economic characteristics of the enterprise LLC "First Window Plant". Analysis of its financial stability indicators and development and implementation of mechanisms to improve its efficiency.

course work, added 12/08/2011


Theoretical aspects of definition and analysis of financial stability. Analysis of the financial activities of OJSC "Tyazhmash". Ways to increase the financial stability of an enterprise. Gear manufacturing technology. Features of labor protection at the enterprise.

thesis, added 12/09/2008


Characteristics of sustainability as the ability of an economic system to maintain its state for as long as possible. Key indicators for assessing the sustainability of the country's economy. Development of an economic and mathematical model for determining the sustainability of the Ukrainian economy.

test, added 01/24/2013


Development of proposals and recommendations to improve the economic efficiency of the production and economic activities of an enterprise (using the example of the Minskhlebprom Municipal Unitary Enterprise). Analysis of the main indicators of efficiency and financial stability of the enterprise.

course work, added 06/26/2016


The essence and criteria of economic efficiency, the methodology for its assessment for a trading enterprise. Analysis of the efficiency of Gotti LLC, ways of improvement. Assessment of property and sources of its formation, solvency and sustainability of the enterprise.

thesis, added 02/24/2010


The concept of economic efficiency of an enterprise and the factors influencing it. Scheme for searching for reasons for reducing the profitability of production activities. Carrying out analysis economic efficiency enterprises using the example of OAO OOPZ Neftekhimavtomatika.

thesis, added 03/25/2011


Determining the nature of the financial stability of the enterprise, calculating its economic indicators. The concept of enterprise liquidity and its balance sheet. Calculation of the net asset value of an enterprise. Conducting an analysis of financial stability using the example of OJSC "TZTO".

Send your good work in the knowledge base is simple. Use the form below

Students, graduate students, young scientists who use the knowledge base in their studies and work will be very grateful to you.

Posted on http://www.allbest.ru/

Introduction

Relevance of the topic. Solving the problems of socio-economic development of small towns, overcoming the crisis, increasing the social security and well-being of residents, bringing their standard of living closer to the corresponding indicators in Russia is the first of the main tasks facing state and municipal authorities. Nowadays, more than 70% of Russia is made up of small urban settlements. Many of them have quite significant potential for their development due to the preserved historical and cultural heritage, geographical location, favorable climatic and environmental conditions, and traditional settlement.

Supporting the development of small towns is economically effective, since it provides new incentives for the socio-economic revival and development not always of them, but also of the vast rural areas located in their zone of influence. All small towns in Russia, to one degree or another, played their role and found their own place in Russian history; they are all, one way or another, experiencing the difficulties of a new life at the time of reform. At the same time, they are in different economic, social, environmental conditions, administrative situation and physical condition, which requires a differentiated approach to determining the ways and methods of their transformation.

It should be noted that the role of small towns in the life of the rural population is invaluable. They are a kind of “provincial capitals”, service centers over large areas. Along with this, fast and moderate growth rates are characteristic mainly of those settlements that are located in the zones of influence of large and large cities and on the main communication axes. The population decline is observed mainly in peripheral cities located outside the main poles and axes of development. If emergency measures are not taken to strengthen them, there is a tendency towards a reduction in the population of small towns.

In terms of functional purpose, small towns in Russia are characterized by significant heterogeneity; These include: industrial, agro-industrial, agricultural, tourist and recreational, environmental cities. The vast majority of industrial cities are administrative centers and, excluding economic ones, perform functions directly related to the management and maintenance of areas and settlements of the entire region.

A number of small Russian cities are distinguished by high historical, cultural and recreational potential, which creates the prerequisites for the formation of a modern type of urban settlements - recreation and tourism centers - and can serve as an incentive for their socio-economic revival. The functions of tourism centers can be performed primarily by famous historical cities with valuable architectural monuments.

The relevance of the research topic is due to the fact that the steady strengthening of the domestic economy, strengthening its social orientation, and focus on creating favorable conditions for a decent life and free development of every citizen of the country put forward the need to increase the sustainability of the economic development of small towns. The successful solution of this complex and multifaceted problem largely depends on the search for directions for improving the forms and methods of managing small towns, which leads to an increased importance of scientific support for the transformations carried out in them.

At the same time, the changes in the economy of Russia and the regions in recent years, in our opinion, indicate the use of ineffective methods and models of the transition to market relations. At the same time, the main problems are related to the formation of new mechanisms for implementing small business development processes, structural, contractual, investment policies, etc. Particularly relevant in the current conditions is the issue of the development of a small city, which is designed to perform socio-economic functions; ensure a balance of supply and demand in the market; create new jobs; solve a complex set of socio-economic problems of territory development.

Essentially, the work sets the task of creating strategic management of a small town, the effectiveness of which, as theory shows and management practice confirms, is justified in conditions of instability of environmental factors. It helps to strengthen the action of market mechanisms in relation to municipalities and is a fundamental condition for the successful development of both the municipalities themselves and the economies of the regions and the country as a whole at the present stage of economic and social transformations.

From this point of view, the future of small towns in Russia directly depends on improving the mechanisms, forms and methods of managing the development of small towns. The implementation of this provision is to a certain extent hampered by insufficient theoretical and methodological support the process of forming a management system for small towns that meets the laws of a modern market economy and the characteristics of a particular subject. This determined the choice of topic and the relevance of the study.

In general, their research contributed to the development of a number of theoretical and methodological provisions for creating a management system for small towns. However, many issues of improving development management have not yet been sufficiently studied, which hinders the effectiveness of influencing the processes of qualitative change. Until now, a scientifically based concept of the transformations necessary for a more sustainable development of small towns has not been developed; there are no methods for assessing the effectiveness of the economic development of small towns, taking into account their specifics. The economic and organizational mechanisms for managing the development of a small town that meet the conditions of a particular region are not clearly reflected. There is no clear idea of ​​the forms and methods of stimulating the development of a small town. All this predetermined the choice of goal, setting of tasks and justification of the directions of the research.

The purpose of the study is to develop methodological provisions for the development of measures to increase the sustainability of economic development of a small city that meet the conditions of the domestic economy, as well as the characteristics of a particular subject and its specifics.

In accordance with this goal, the following tasks were set and solved during the study:

To study the essence and features of the development of a small city (using the example of the city of the Tambov region - Uvarovo) in the conditions of a modern market economy;

Identify factors influencing the development of a small town;

Analyze the development of small towns in the conditions of modern life;

Establish trends and directions for the development of forms of management of a small town;

To clarify methodological approaches to assessing the level of development of a small city from the position of strengthening its role and influence in modern society;

Summarize and clarify the criteria and indicators for assessing the effectiveness of small town management;

Develop proposals for improving the forms and methods of managing a small town in order to increase the sustainability of its economic development.

The subject of the study is a set of theoretical, methodological and practical issues related to improving the forms and methods of managing a small town in order to ensure the sustainability of its economic development.

The object of the study is a complex of socio-economic processes and problems of the city of the Tambov region - Uvarovo.

The theoretical basis for research in the field of economics and management, business and entrepreneurship, the theory of welfare and government regulation was the works of such domestic and foreign economists as Vetrov G.Yu., Vasiliev A.A., Vinogradov V.V., Leksin V.N. , Shvetsov A.N., Ryuli N., Thompson A.A., Strickland A.J. etc. The research is based on the basic principles of the theory of market economics, macro- and microeconomics, as well as developments on the problems of forming and improving the economic management mechanism.

Information support for the study included legislative and regulations of the Russian Federation on the development of small towns, materials from Rosstat, normative and reference literature, analytical material from the Ministry of Economy of the Russian Federation, as well as primary information on the municipality under study, obtained by the author during the research.

In the process of conducting the research, methods of logical and system analysis, ranking, economic and statistical analysis and other general scientific methods were used.

The scientific novelty of the research lies in the development and clarification of theoretical and methodological provisions for the formation of a management system for the development of a small city based on the use of forms and methods of management that are adequate to the laws of a modern market economy, the specifics and characteristics of the socio-economic situation of the city, as well as a set of measures that contribute to its sustainable development enterprises and organizations.

The practical significance of the conducted research lies in the fact that it has been brought to specific recommendations for improving the forms and methods of managing the development of a small city, and the results obtained can be used as a theoretical and methodological basis during the transformations carried out in it. Theoretical provisions, conclusions and practical recommendations related to strengthening the role and place of a small city while strengthening government regulation can be used in the development of targeted programs for the development of small cities.

Chapter1 . Conceptual framework for studying small-scale problemscities and increasing their economic stability

1. 1 Concept« economic stability»

IN modern science Research on the concept of “economic stability” has received insufficient attention. More attention is paid to issues of financial stability and reliability. Financial stability is a consequence of the economic stability of the city. Financial analysis is a necessary complement to assessing economic stability. In this situation, it is considered appropriate to analyze all existing approaches to defining the concept of “economic stability”.

As you know, assessing economic stability is one of the main areas of financial analysis, however, there is no single approach, as well as when defining the concept itself, in modern publications, which negatively affects the accuracy and reliability of the assessment information. Further, “stability” can be classified into: managerial, technical and financial-economic. Managerial stability of city functioning implies a management structure in cities that ensures the absence of staff turnover, clarity and consistency of management decisions, distribution of responsibilities, control over their implementation, consistency of partners and suppliers, high production volumes, etc. The normal nature of urban development is, first of all, the normal state and dynamics of the city’s social sphere, its compliance with the necessary social norms and standards.

Stability of urban development is the optimal distribution of urban resources for economic purposes, taking into account social objectives, improving the proportions of cost-effective components of economic indicators within the framework of social constraints, because outside such a framework, economic stability becomes an end in itself, turns into a self-sufficient value that has no real applied significance from a city management perspective. After all, the economy of a city is an important, but only part of its socio-economic sphere, and the relationship between the social and economic components of this sphere, as is known, is characterized by a complex and interdependent nature. At the same time, social relations, on the one hand, depend on economic processes, and on the other, influence them, predetermining their target orientation and qualitative orientation.

In addition, “problems” and tensions in the social sphere can complicate, and often seriously undermine, weaken the development of economic processes. The degree of social favorability is not only a result, but also a significant factor in the economic development of a city. Consequently, the stability of urban development cannot be limited to a purely economic framework and, in a general sense, involves the inclusion of social indicators in the system for assessing the effectiveness of city development. A certain discrepancy between the criteria of efficiency and stability (as is known, efficiency in terms of the nature and pace of dynamics can be stable and unstable, and, in addition, there are possible options for stable inefficiency and ineffective instability) does not deny that social aspects are essential elements of both criteria from a management perspective city. It is impossible to seriously talk about the stable functioning of the city under conditions of social instability.

At the same time, the possibility of social stability in a city whose functioning is unstable in other respects is questionable. Thus, city management involves a targeted impact on a complex of socio-economic relations. The significance of both social and economic elements of such a complex can hardly be overestimated. However, from the position of city management, it is fundamentally important to understand their hierarchy in the process of building the goals of the management system, in the course of constructing their unique subordination in organizing the management cycle.

In this sense, the importance of economic relations as a base, the foundation of socio-economic development is obvious. Accordingly, social relations, processes and indicators to a greater extent predetermine the target orientation of such development and are the initial ones in the system of priorities. In the dialectical nexus of socio-economic relations, the economy embodies resource opportunities and limitations of social development, and social parameters rather reflect the target opportunities and limitations of economic processes.

The goal of local government is to create conditions for ensuring normal life in the city. The area of ​​responsibility of local government includes the socio-economic sphere of the city. Consequently, social parameters are important components of both the target function and the scope of activity of local government, which is due to the essence of social relations and the nature of local government. Therefore, the system of goals of local self-government should be built on the basis of social priorities and taking into account financial and economic restrictions.

The objective and subjective relationship between various spheres of city life (in particular, social and financial-economic) from a management perspective is such that the main efforts, activities, and programs are focused, first of all, on solving financial and economic problems. This makes it possible to focus the distribution of resources on those areas of activity that are capable of providing a relatively faster and more significant effect from their use, their certain self-expansion. That is, in such a situation, priority is given to financing such projects, the implementation of which makes it possible to increase the resource base of local self-government, its expansion necessary to achieve other related goals and objectives.

We can also highlight several basic elements that are especially important for understanding development prospects:

Determining the composition and values ​​of social standards that are maximum permissible in terms of maintaining the stability of the socio-economic situation in the city;

Analysis of the financial and economic situation as an objective basis for the development (or degradation) of the social sphere;

Analysis of the current state of the social sphere and the trend of its dynamics, on which to a certain extent the nature of its potential development also depends.

The city, and due to its system-forming position, the region, experience a relatively heavier social load. The reason for this is the high proportion of knowledge-intensive and labor-intensive industries, enterprises of the military-industrial complex, where the greatest losses are due to the economic recession, ill-conceived policies and practices of restructuring, denationalization, the crisis of non-payments, insufficient state support. Last year, the federal budget's debt to enterprises and organizations in the region exceeded 1,413 million rubles, including 346 million rubles for defense orders.

As a result, it decreases the tax base. This is accompanied by an increase in the burden on local budgets due to the transfer to this level of an additional network of social institutions, housing stock and some state powers. As a result, the imbalance between local finance income and expenditure increases. Social guarantees to the population, designated by law, are practically not provided with federal funding. There is a decentralization of social responsibility, not supported by financial and economic support.

This process is carried out both legally and in fact, since the level of local authorities and self-government is objectively closest to the centers of social problems and sources of social tension; from this level there is nowhere further (with all the desire) to “delegate” social responsibility. Obtaining significant additional resources for financial and economic support at this level in the current conditions is also very problematic. Therefore, the center of gravity, not so much of social regulation, but of social problems, is moving practically to the local level.

For a stable economy of small towns, it is necessary, in particular, to intensify the use of extra-budgetary (state and municipal) funds, the use of borrowed funds, the introduction of normative planning of budgetary expenditures based on the application of social standards and regulations, the delimitation of local government responsibilities for the socio-economic development of the city, introduction of normative and contractual division of functions for resolving local issues and exercising state powers.

The economic stability of the city is an integral characteristic of its existence. Currently, the concept of economic stability is one of important characteristics its investment attractiveness, determines the basic management tools, and also makes it possible to increase the efficiency of management activities. In this regard, the assessment of economic stability from a general scientific problem moves into the category of applied ones. Thus, consideration of the concept of assessing economic stability is an important step in developing a comprehensive methodology for its assessment.

Classification of small towns

Small town is district center regional, regional or republican subordination; in the vast majority of cases this is a city or (very rarely) an urban-type settlement. In this formulation, a small town has a clear position in the structure of territorial entities - it is a third-level city, but the first in that vast space of rural settlements, to which the threads of the spiritual and educational culture of the entire region are drawn. Modern small towns can be divided into three main groups.

Cities are local centers. These are a kind of mini-capitals. They head an administrative district or part of it, and sometimes a group of administrative districts. Cities - local centers make up the largest group of small cities. Among them are former district centers and recent villages that received city status in Soviet times. The city lives by using the resources of the surrounding area and serving its needs. The natural position of the city center is at the junction of roads covering the “sponsored” territory.

The city is connected with the surrounding settlements by regular bus routes, transportation on which increases noticeably on Sundays. Characteristic The layout of such cities is that the main streets serve as a continuation of the roads converging to the city and lead directly to the center, the most representative part of the city. The center is marked by buildings from different eras - from the city cathedral, which was the heart of the city in the 18th-19th centuries, to the building of the former district party committee, which played the same role in Soviet times. For some cities, the functions of the administrative center are the main ones. Others perform them “part-time”, in addition to their main activity.

Satellite cities. These are “splashes” of a big city, pieces that bounced off from it. They are among the youngest cities that have grown rapidly, especially in the post-war period.

The satellite cities are very diverse. In some cases, they arise on the basis of a branch of a plant or institute located in the center city. Among the satellite cities, there are often cities of science, which are located, as a rule, surrounded by large cities - Moscow, St. Petersburg, Yekaterinburg, Novosibirsk, Krasnoyarsk.

The share of small towns - regional centers in the total set of small towns in the economic regions of Russia.

Economic regions share of small towns and regional centers (%):

Northern? 72.4

Northwestern? 64.4

Central? 74.1

Volgo-Vyatsky? 95.5

Central Black Earth? 88.9

Povolzhsky? 88.3

North Caucasian? 78.0

Ural? 59.3

West Siberian? 57.0

East Siberian? 60.4

Far Eastern? 66.2

TOTAL? 71.0

Cities are specialized centers. They are also very numerous and diverse, as a rule, focused on any one sector of the economy. These are the cities - centers of mining in the North; the severity of natural conditions does not allow them to combine several “professions”. In other cases, a small town is doomed to monofunctionality by the secrecy of production; its closed nature makes the city feel isolated. Finally, in many cities, narrow specialization is associated with youth: the city has only recently begun to exist and has not had time to attract other types of activity.

Based on the nature of their economic base, small towns can be divided into three main groups:

The first includes cities with a relatively developed economic base (53% of small cities in Russia).

The second group consists of cities with a relatively small economic base. They account for about 40% of all small towns in Russia. Among them are the cities:

With relatively developed industrial, industrial and transport functions (3%)

With a predominance of functions for social and cultural services of adjacent territories (30%)

With pronounced agricultural functions (5%)

With pronounced recreational functions (2%)

The third group includes cities of all other functional types, constituting about 7% of all small cities in Russia.

1. 2 Features of socio-economic developmentcitiesat the present stage

A municipal entity is an element of the national economy, therefore its development trends, on the one hand, reflect, and on the other hand, determine the development trends of the more general socio-economic system in which it operates. In changing economic conditions, when the crisis has affected a number of sectors of the economy, cities saturated with defense, textile, and coal mining enterprises have found themselves in a difficult situation. The so-called single-industry cities, the city-forming base of which is represented by one enterprise or several enterprises of a similar profile, find themselves in a particularly difficult situation.

These cities include most of the “small” cities in Russia. One of the most important features of Russia is the sharp polarization of development opportunities - at one pole there are large cities (the 31 largest cities account for 1% of all urban settlements and 34% of the urban population), and at the other - small, medium-sized cities and urban-type settlements (respectively almost 95% of all urban settlements and 38% of the population).

Large cities and urban agglomerations are multifunctional economic complexes with a high concentration of production. The bulk of the largest monopolistic enterprises are concentrated in them, and due to their specificity, they ensure high profitability of invested funds, concentrate highly qualified personnel and achievements of scientific and technological progress. Financial resources have been concentrated in large cities and structural restructuring is taking place more actively, which is an attractive factor for all categories of investors. Therefore, at present, only large cities fit into the structure of regional development programs. The reasons for this are the deep differences that initially developed and the serious lag between small cities and large ones.

Small towns, as a result of the economic policy pursued in the pre-reform period, were predominantly integrated into the all-Russian sectoral, rather than territorial, economy. Due to the high degree of such integration, the overwhelming majority of them are currently incapable of autonomous development. When denationalizing the means of production, the organizing principles that unite economic units into a single economic system, were lost, and in the process of reforms, small towns completely fell out of the sphere of interests of both the federal and regional authorities.

Thus, small towns and their economies almost instantly found themselves, on the one hand, outside the unified state system for managing economic development, but, on the other hand, there was no alternative to this previous system, no solution allowing small town enterprises to gradually move into new system market relations were not proposed by the reformers. At the same time, the fact that most small towns are poorly developed in socio-economic terms has become increasingly aggravating.

The problems of these cities are primarily related to the state of the city-forming enterprises. A common problem is that most utility networks are owned by the enterprises located on their territory. This makes the city authorities and the city as a whole dependent on them, which is typical, for example, for the city of Chebarkul. Here, on the territory of the Ural Forge plant, one of the leading enterprises in the city, there is a boiler house that not only produces process heat for the plant, but also heats the entire city. Satka, a city with two large enterprises - a metallurgical plant and the Magnezit plant, is heated by the combustion of industrial waste. In 1997, due to a sharp reduction in magnesite production, the city was left without heat, which led to an aggravation of social contradictions. The most important social problem small towns - unemployment, including hidden and stagnant.

Transition to a market economy open type, the removal of the state from solving the economic problems of industrial enterprises led to the shutdown of a number of industries in the military-industrial complex, mechanical engineering, light, food, agricultural, processing industries, that is, industries that form the city-forming basis of small cities. In small “coal” towns, only the first stage of industry restructuring was carried out: most of the mines in the cities of Yemanzhelinsk, Kopeisk, and Korkino were closed. There are no financial resources to carry out structural restructuring of their economy and create alternative enterprises. The material basis for the development of the social sphere of small towns is being destroyed. Enterprises are not able to maintain their housing, communal services and social infrastructure facilities. They transfer them to the city, which, in turn, does not have the ability to properly ensure the functioning of these facilities. Thus, it should be stated that, due to the specifics of small cities, the general negative processes for the country are most acute here. Meanwhile, if large cities, together with agglomerations, are urbanized nuclei scattered throughout the territory and their influence extends only to 0.7% of the territory of Russia, then small urban settlements are the predominant form of urban settlement in all regions of Russia and almost all populated areas are under their influence points (more than 150 thousand). In general, as a result of the transformations carried out, the previously existing gap in the levels of development between large cities (regional and regional centers) and small ones has increased to catastrophic proportions in the last period. To date, no mechanism has been created to help reduce this gap. Moreover, mechanisms are needed for a careful, smooth transition of the economy of small towns to a new system of economic relations.

Due to the specific nature of the economy of small towns, general negative processes for the country manifest themselves most acutely here. In this situation, the role of local administration in managing the socio-economic development of a small town increases significantly.

The vast majority of small towns are single-industry settlements (MSS). The specificity of single-industry cities, traditionally manifested in the nature of employment of the population (for example, the predominance of female employment in textile villages, male employment in mining villages), and the corresponding disproportions by gender of the population during the crisis period were aggravated by additional changes in the age composition of the population, due to the closure or suspension of work of a significant part city-forming enterprises and the outflow of the population of working age, incl. youth. A narrow scope of employment, stagnant unemployment, a decline in living standards, a rollback of social infrastructure, a reduction in budget revenues, and deterioration of public utility networks - all these are the problems of small enterprises affected by the crisis. The process of bankruptcy of enterprises in MPP has become a matter of selection of the settlements themselves, some of which have already ceased to exist, and a number of others have lost the status of urban settlements.

Mono-industry is defined as the dominance of any industry in the specialization of the city's economic base. The concept of mono-industry in the scientific literature, as a rule, was applied to cities and towns in which 1-2 large city-forming enterprises belonged to the same industry, and the main employment and income of local budgets were associated with these same enterprises. The quantitative criteria were the following: at the enterprises of the dominant industry, either >50% of the volume of all products is produced, or >25% of the employed are employed; in addition, settlements with the status of rural settlements (SNP) of timber industry specialization, as well as some settlements of non-industrial specialization, are classified as single-industry ones, whose main functions are service railway transport correctional institutions, military units, recreational services, as well as cities - science cities and closed territorial entities (ZATO).

The profile and location of most MSPs coincides with the specialization of the regions, many of which are relatively highly specialized.

The placement of MSP associated with the extraction of fuel and mineral resources is predetermined by the geological structure of the territory and the size of the deposits. Thus, in the eastern part of the country, on local deposits of non-ferrous metals, a number of isolated urban settlements were formed, on the basis of larger deposits (like Norilsk) - a group of MPPs; All are characterized by focal locations outside the main settlement zone and poor transport accessibility. In basin coal and gas deposits, areal settlement systems have formed: in areas of new development - consisting of small-scale settlements (Yamalo-Nenets Autonomous Okrug), in areas of old development - from multi-profile cities and small-scale settlements (Kuzbass, Eastern Donbass).

The placement of forestry specialization forestry enterprises is associated with the taiga zone. A network of logging settlements has been formed here, connected to single-industry towns specializing in wood processing and multi-profile centers with large pulp and paper mills. Food processing enterprises that process agricultural products are located in the steppe zone. Such cities simultaneously perform central functions in relation to rural areas.

MPPs of the fish procurement sub-industry are located in the coastal regions (Kaliningrad, Kamchatka, Sakhalin regions, Primorsky Territory).

The defense factor predetermined the specific location of the cities of the military-industrial complex and ZATO. They are characterized by a relatively secluded location, some of them are located in the interior of the country, some in coastal regions, and some closed administrative towns are located in agglomerations.

Science cities are located in the gravitational field of the largest centers.

The increased concentration of small industrial enterprises in light industry in the northeastern part of the Central Economic Region is historically inherited from the era of early capitalism in Russia; their location was influenced by cheap labor and a capacious consumer market.

Availability large quantity The MPP of metallurgical and mechanical engineering specialization in the Urals is also a consequence of the early stages of the deployment of productive forces. The location of machine-building MPPs in the Central regions is associated with the specialization of this territory and the high concentration of population and settlements.

Single-industry cities can be divided into:

a) emerged as mono-industry and continue to be:

Historical cities that grew out of factory towns and factory villages and have not outlived their single-industry status;

Cities during the industrialization period of the country, which arose as industrial ones and remained highly specialized (polluting production, unprofitable EGP, harsh climatic conditions, etc.);

Young cities with large manufacturing enterprises, which arose both on the basis of urban settlements and located in the “open field”;

Young “resource” cities and towns located in areas with extreme natural conditions;

Science cities, ZATOs are a special type of small industrial enterprises, where science and production related to the military-industrial complex were simultaneously developed;

b) became mono-industry in the process of development:

Cities that arose in connection with the performance of various non-industrial functions (defense, administrative, trade and transport), in which a relatively large industrial enterprise was located during the Soviet period;

Small towns that were previously multi-industry, but have become single-industry over the past 10 years: the emergence of a leading enterprise in terms of production volumes was caused by a drop in production at others;

c) those who have lost their single-industry profile due to a narrowing economic base:

Cities and towns that have formally ceased to be single-industry: due to the liquidation of the main city-forming enterprise, in which the problem of employment of the released population has not been resolved.

In the literature, the opinion is often expressed that single-industry is associated with miscalculations in planning, lack of investment resources, etc. But the reason for the reproduction of single-industry lies not so much in the nature of the economic base, but in the possibilities for the growth of the city, its position in the group system of populated areas. Mono-industry is inherent in most small towns, just as in a hierarchical system of settlements all cannot become large and large cities, and all settlements cannot be multi-industry. The existence of MSP in the country for a long period indicates the objectivity of the phenomenon, due to the peculiarities of the economic and spatial development of the territory.

1. 3 Main directions of development of small towns in Russiaeconomic stability city management

Strategic directions for the development of small towns can be:

Strengthening their role as centers of gravitating areas, including agricultural, recreational, and timber;

Repurposing in cases where the existing specialization is ineffective in new market conditions;

Strengthening their role as structural centers in the agglomerations of the largest cities (transport hubs, locations of industrial enterprises removed from the main city or interconnected with enterprises of the main city - the center of the agglomeration, recreational and other service centers or complementing the economic complex of the agglomeration, etc.);

Development of functions based on the existing potential of the city, especially qualified personnel;

Development, first of all, of historical cities and towns with especially favorable natural conditions and historical and cultural monuments for these purposes.

Important mechanisms for the growth of small towns and cities are the comprehensive development of small businesses, attracting investments as a result of a well-thought-out marketing system and skillful implementation of measures to comprehensively improve the image of the city, the widespread use by the bodies of the constituent entities of the Federation and local authorities of tax breaks and other measures to support enterprises and business areas that are the most promising. in the conditions of this city.

Table 1

The goal of intensifying the development of small towns does not require that thousands of small towns and villages develop as large industrial centers. Most small towns do not have favorable prerequisites for the location of large-scale industry: convenient construction sites, fuel, energy and raw material resources, acceptable conditions for water supply, wastewater disposal, etc. The main factor favoring the development of industry in these cities - their labor resources - is undoubtedly important and should be used, but it, as a rule, does not allow large-scale implementation. industrial engineering: the labor resources available in a small town are relatively small and during the construction of large enterprises they are quickly exhausted, there is a need to attract work force from the outside. In most cases, the construction of large industrial enterprises in small towns is not economically efficient.

In our opinion, and also shared by V.Sh. Kaganov in his work “Organization for Support of Small Businesses” small towns should be developed as:

1 ? local centers, occupying a more modest, but extremely important place in the hierarchy of populated areas and leading the development of gravitating agricultural areas with corresponding service enterprises and industry of local importance;

2 - locations of workshops, branches and highly specialized production facilities of large enterprises in large cities, easily “fitting” into the systems of municipal equipment of these cities (not requiring special thermal power plants, industrial water intakes and treatment plants, etc.). This very promising path of “dispersed” placement of industry has recently been developed in the largest agglomerations (for example, the construction of branches in the cities of the Moscow region by large Moscow mechanical engineering and light industry enterprises). It is greatly facilitated by the tendency towards narrow specialization of a number of industries, which makes it possible to simplify and facilitate the training of personnel for them in small towns;

3? recreation and tourism centers, which will be very important in the future.

Highly specialized cities, under the necessary conditions, should have the opportunity to develop at least one more area of ​​activity and gradually transform into a multifunctional center. Cities that are centers of the mining industry can be included in a special group. Each of them requires a repurposing concept, since the mineral deposit that serves as the basis for the city's existence will someday be completely depleted. In relation to small towns, various methods should be used to intensify their development: the creation of new industrial enterprises or their gradual transformation into centers of recreation and tourism, strengthening the importance of these cities as the “capitals” of lower regions.

In the case of using industry as a lever for the rise of small cities, it is necessary to take into account all the functions they perform so that they are not suppressed. On the contrary, the development of industry should help strengthen other features characteristic of a small city, be related to the needs of the region, focus on processing local raw materials or serving local needs. It is advisable to follow recommendations for the selection of enterprises that, in profile and size, correspond to the growth of a small town and its position in the settlement system.

Typological and regional features of cities, the place of each of them in the settlement and territorial structure of the country and region, the essence of the city as a special type of territorial concentration of the population and its activities - all this must be taken into account when developing a city development concept, which should be created for each city in accordance with his personality. Resolving disputes and searching for the optimal solution for the development of the city is required on the basis of scientific data.

Effective management technologies for the development of small towns include external conditions at the federal level.

There are only five of them: optimization of interaction between state authorities and local self-government, including the organization of a multi-level system of economic and urban planning forecasting (from the federal level to the city level); ensuring proportional development of small and large cities with the formation of an investment fund for the development of small cities; change in tariff policy (small cities cannot be saved without stabilization and reduction of tariffs); refusal to directly implement the principle of equalizing per capita incomes in interbudgetary relations; a change in attitude towards the Stabilization Fund and reserves of the Central Bank, because The “rainy day” has already arrived.

There are four external conditions at the regional level: determining the role of each city in territorial organization production and settlement of the corresponding subject of the Russian Federation and priority directions for the development of each city (the city itself cannot establish them); territorial differentiation of all payments in the region in accordance with the priorities established by the subject of the Federation, and optimization of intermunicipal budgetary relations; coordination of intermunicipal relations from the point of view of the interests of the subject of the Federation as a single socio-ecological-economic entity, in which everyone should be focused on a single end result; development of intercity social, engineering, transport and institutional infrastructure.

The internal conditions for the development of small towns are:

Ensuring unconditional trust of the population and business in local authorities based on the formation of a favorable investment climate;

Creation of a forecasting and analytical strategic planning service for the advance preparation of the required project documentation and advance notification of business about upcoming changes in the economic situation;

Systematic implementation of territorial marketing to timely inform potential investors about your city;

Carrying out optimal land, housing and communal services, socio-cultural, youth and personnel policies;

All-round increase in social activity of all layers and territorial groups of the population while simultaneously focusing this activity on creating a favorable living environment in the city and combating personal, group, and corporate egoism.

The program for the accelerated development of small cities will only work if each city has its own development program. The scheme could be like this:

Available potential;

The most effective areas for its use for the country;

Damage to the country from its underutilization;

The first launch package of measures for city development and investment needs;

Investments that the city itself can provide;

Calculation of the payback period of regional and federal funds and an approximate schedule for their return.

Similar documentation should be available in every subject of the Federation.

To do this at the federal level it is necessary:

recognize that an issue of local importance for municipalities is the formation of the living environment (urban planning, economic, socio-political, and so on) of its population, and the main task of local government is to adjust the behavior of all economic entities on its territory (regardless of forms of ownership) to accelerated increasing its contribution to the socio-economic development of the country; refuse: 1) the privatization of municipal property as supposedly excessive, because it is always less than what is necessary for the formation of a living environment; 2) from reducing natural resources to man-made things (real estate); 3) from the division of lands, like property, into federal, subject of the Federation, municipal and private (it is correct to talk about public and private lands with the corresponding mechanism of interaction between the state and local government in the field of land and property relations);

introduce a procedure for the mandatory development of municipal concepts for property management (the municipality manages its own property; regulates the policy in the sphere of use of existing property by other owners from the point of view of the optimal directions of the contribution of its territory to the patterns of the systemic organization of the Russian Federation);

to neutralize municipal and regional egoism, introduce a mandatory transfer of fines on a progressive scale from investment-attractive cities to the budget of the constituent entities of Russia for each additional (compared to the calculated level workplace and for each additional inhabitant, otherwise the process of desertification of territories with low market prices for land and labor with all the undesirable consequences of this will not be stopped).

The implementation of all these requirements necessary for the development of small towns is possible only on the basis of a clear technology for the interaction of city, regional and federal structures

First of all, a kind of inventory of existing enterprises is needed to identify “bottlenecks”, the removal of which will make it possible to restore the pre-reform level of economic activity in two to three years. Today there is no information to determine how much money a particular city needs to increase the number of actually functioning jobs. It is very important for the leadership of each city to clearly understand in which goods and services this city has a competitive advantage over others. This will allow you to establish clearly targeted territorial marketing of your city in relation to potential investors.

It is especially promising to use the slightest opportunities to hold festivals, exhibitions, fairs, sports competitions, days of remembrance of outstanding fellow countrymen in the city - everything that can attract people to the city who are ready to leave their money here. Everything that can attract talented people here and play an incentive role in choosing where to invest the capital of this or that investor.

But all this will be of little effect if the technology to increase the social activity of the population, reduce social tension and increase confidence in the authorities is missed in the complex of works to revive the economy. It is important to understand that social tension, which reduces the investment attractiveness of a city, has little to do with the hardships of life. If people are convinced that any other solution will lead to even greater hardship, then they unite around such power. The technology for ensuring unconditional trust of the population in government requires special consideration. Here it is important to emphasize the need to create for this purpose in each city mathematical models for a comprehensive assessment of the consequences of decisions made. On the one hand, they protect the government from its own miscalculations, and on the other, from all sorts of demagogues. Such models are especially important during pre-election times in those cities whose leaders are truly working for the benefit of their constituents. It is against these leaders that the dirtiest tricks are used, and local authorities have no other defense than to show, with the help of these models, how much it will cost the townspeople to abandon the line they are pursuing.

Finally, special attention should be paid to increasing the social activity of the population, including in elections. This includes holding citywide and neighborhood holidays that bring people together, and fully stimulating the development of territorial public self-government based on the principle of equivalence. If you increase your contribution to the development of the city, you receive moral and, in one form or another, material reward. If you ignore the interests of the city, everything is the opposite.

However, with all the activity and with all the trust of the population in the local authorities, a small town is doomed to devastation if it lacks places for youth to work and spend leisure time. And without direct (through the budget for the development of small cities) and indirect (through the economic mechanism of proportional development of large, medium and small cities) support for small cities from the state, these places of employment cannot be created.

Small towns are the key to Russia's natural resources, which are potentially estimated at 350 trillion. $. The current market value of the largest companies in Russia is 1 trillion. $. So that these riches find their market value, it is necessary to ensure their availability and involvement in global economic circulation. The prospects for the development of small towns in Russia are related to the development of infrastructure.

The information revolution and the Internet have created the basis for information support for development. The Government of the Russian Federation allocates significant funds for the development of roads.

The role of small towns as the foundation for the development of industrial activity increases every year. The organization of qualitative changes, consisting of the transfer of production capacities from large cities to small ones, will increase the production potential of the latter and create a favorable investment climate. Having gone through a long path of historical development, small towns have lost their significance, their status as the cultural and industrial center of the region. The development of industry and urban infrastructure will make it possible to achieve an increase in the living standards of the population, to overcome the critical situation of small towns and to regain the status of the cultural and industrial center of the region. In addition, the existing historical heritage, reminiscent of the traditions and customs of small towns during the formation and development of the Russian state, cannot be lost, but on the contrary, the revival of interest in it will attract the attention of people from big cities, which will also affect the revival and further development of small towns. cities. The transition to the principles of self-development: self-government and self-financing are the main components of the system of preservation and restoration of small towns in our country.

Similar documents

The concept of "city" from an economic point of view. The essence and directions of its comprehensive development. Theoretical concepts and methods for assessing the level of socio-economic development of cities. Principles of classification of economic problems of urban management.

course work, added 05/25/2014


General information about small towns in Russia. Classification of small cities: village, district, parish. Features of the socio-economic development of small towns at the present stage. Generalized problems of small towns in Russia. Directions for the development of small towns.

test, added 11/02/2008


Conducting a survey of small businesses in the city of Naberezhnye Chelny to identify problems in the development of small businesses and develop ways to solve them. The importance of small enterprises in the economy of the city and state, their resource provision.

course work, added 11/25/2010


The concept and constituent elements of a complex city infrastructure. Identification of problems of the infrastructure complex of the city of Efremov, Tula region. Formation of the main options for the socio-economic development of the Efremovsky municipal district.

course work, added 05/30/2013


Standard of living as a socio-economic category. The cost of living in the Republic of Bashkortostan. Characteristics of the socio-economic situation of this municipal area. Measures to improve the level and quality of life of the population.

course work, added 06/18/2013


Basic concepts and structure of urban economy. Methodology for planning its socio-economic development. General provisions plan for the socio-economic development of the municipal economy of Murmansk. Functions of municipal bodies in the field of management.

test, added 11/28/2012


Characteristics of the housing stock. Calculation of water, heat, electricity and gas supply, sewerage, capital investments in road infrastructure and city landscaping. Development of parameters for the urban development program, taking into account financial restrictions.

course work, added 12/10/2014


Theoretical and methodological foundations for studying the problems of small business in Russia. Regulatory and legal support for the development of small businesses in Russia at the federal and regional levels. Features of the formation and development of small businesses in the city of Volgograd.

thesis, added 11/04/2010


The place and role of the city in the economy of the Russian Federation. Specifics of the city of Naberezhnye Chelny. Results of the socio-economic development of the city. Economic problems and development prospects of the city of Naberezhnye Chelny. Food and processing industry.

thesis, added 12/03/2008


Analysis current state and prospects for the socio-economic development of small Russian cities. Justification of their role and place in the spatial and socio-economic development of the Russian Federation. Directions of state support for the development of small towns.

Purpose of the study: systematization of scientific approaches to economic sustainability, analysis of the economic situation and financial stability of the enterprise, justification of mechanisms and methods for increasing the sustainability of the enterprise.

1. Theoretical aspects of enterprise sustainability in market conditions.

1.1.Research of unfavorable factors that threaten the stability of the enterprise; the essence of economic sustainability of enterprises.

1.2. Factors determining economic sustainability.

1.3. Methods for assessing the economic and financial sustainability of enterprises.

2. Analysis of the economic sustainability of the enterprise.

2.1. Assessment of the economic situation of the enterprise.

2.2. Study of factors influencing the external environment on the economic sustainability of an enterprise.

2.3. Analysis of the financial stability of the enterprise.

8. PERSONNEL MANAGEMENT IN THE ORGANIZATION

Relevance of the topics. Modern management organically includes personnel management. His the main task- effective use of enterprise employees with knowledge, experience, personal qualities and properties, as well as information and productive power. Functions of personnel management: personnel formation; establishing a system of relationships between people; their inclusion in the creative process of collective labor activity. Therefore, pressing issues for each organization are such as expanding the capabilities of personnel, promoting their development, training and growth, including the promotion of employees based on career planning and development.

Object of study are labor collectives and individual employees, personnel management system.

Subject of study- organization of social and labor relations at the enterprise, productivity and efficiency of labor.

Topic 23. “Motivation for the effective activities of state (municipal) employees”

Purpose of the study: determining the place of motivation in the general concept management functions; studying the evolution of motivation theories; analysis of the motivational climate in the organization, methods of influence of the manager on subordinates, forms of remuneration; development of recommendations for improving the motivation mechanism and stimulating the effective activities of state (municipal) employees.”

1. Theoretical aspects of motivating the effective activities of state (municipal) employees.

1.1.Needs and motivational behavior.

1.2. Theories of work motivation.

1.3. Motivation and effectiveness of professional activity.

1.4. Methods for studying motivation and motives.

2. Analysis of the system of labor organization and motivation in state (municipal) institutions and organizations.

2.1. Analysis of the motivational climate in state (municipal) institutions and organizations.

2.2. Characteristics of the labor organization system.

2.3. Incentive and reward system in the organization.

Assessing the economic sustainability of an enterprise and developing measures to improve it

1. The essence of economic sustainability

1.1 The importance of economic sustainability

The economic sustainability of an enterprise is a general indicator of its activity, which is formed in the process of production and sale of products and depends on its production sustainability and financial and commercial sustainability.

Production sustainability is the stability of production, guaranteed by a supply of orders, a high technical level of production, progressive technological processes, efficient use of fixed and working capital, a rational system of organization of production and labor, an optimal production management system. Production sustainability is influenced by the potential of the enterprise and the results of its production activities.

The growth of an enterprise's potential depends on the growth of its technical level, the progressiveness of fixed production assets and the efficiency of their use, on the introduction of investments, innovations and new technical and organizational solutions.

The growth of the efficiency of an enterprise's production activities is influenced by:

· optimal structure and range of products, level of progressiveness and quality of products, their renewal, degree of certification and exportation;

· optimal personnel structure: high level of qualifications, staff stability, maximum use of working time, increased labor productivity, rational use of the wage fund, reduction of unproductive payments and additional payments;

· reduction of production costs.

Financial and commercial stability is a reflection of a stable excess of income over expenses of an enterprise, ensuring the free circulation of its funds. This is a state of the process of formation and use of the financial resources of an enterprise that ensures its development based on increasing profits and the cost of capital while maintaining an appropriate level of solvency and creditworthiness.

The indicators of the financial and commercial stability of the enterprise are influenced by the results of:

· business efficiency, expressed in the growth of profits and profitability of the enterprise;

· financial activities that predetermine the stability of the financial condition, normal financial stability, solvency, creditworthiness, liquidity of the balance sheet and balance sheet assets, market stability, business activity, high rating, high coefficient of sustainability of economic growth.

1.2 Purpose, objectives and tools for economic sustainability

The process of assessing economic sustainability at enterprises is carried out in stages. During preparatory stage the need to conduct an economic sustainability assessment is determined. The economic sustainability of an enterprise is assessed in the following cases:

1. When creating a new promising area of ​​activity,

2. If there are changes in existing types activities in order to increase their competitiveness.

3. When increasing the efficiency of the enterprise,

4. When inquiring from potential investors,

5. When closing unpromising activities.

The object of assessing economic sustainability is the economic activity of an enterprise related to the external environment: potential customers, suppliers, competitors and government agencies. The subject of economic sustainability assessment is the enterprise that is being analyzed.

The main goal of assessing economic sustainability is to increase the economic sustainability of the subject of assessment based on studying the needs of society, the market, analyzing competitors and the economic activities of business structures, processing the results obtained and creating a plan of practical measures for both the short and long term.

When conducting an economic sustainability analysis, the following tasks are solved:

The needs of society and the market, realized by the subject and its competitors, are determined;

Factors that influence positively and negatively on the subject of assessment are identified;

Determined different kinds reserves that can be used in the future to increase the economic sustainability of the enterprise;

Based on the identified reserves, a plan is formed to improve economic sustainability.

Considering that the reasons for the unstable situation modern organizations are within them, then in order to guarantee the sustainable development of the enterprise, it is advisable to carry out activities to increase the economic sustainability of the enterprise in the following directions:

Ensuring market and competition orientation;

Increasing the controllability and flexibility of the organizational structure;

Creation of mechanisms to reduce the risk of losses;

Increasing investment and innovation activity;

Ensuring profitability;

Cost reduction;

Maintaining liquidity, etc.

Management tools to ensure the achievement of set goals, sustainable development and functioning of modern enterprises are:

1. Monitoring the activities of the enterprise, the purpose of which is to study, evaluate and communicate to the managers and / or owners of the enterprise information about the adequacy and efficiency of the functioning of the units; ensuring timely fulfillment of financial and contractual obligations of the analyzed enterprise; forecasting the economic development of this enterprise. The functions and objectives of monitoring are: preparation of analytical information necessary for making rational and timely management decisions, objective assessment of the results of economic activity of the enterprise as a whole and its individual divisions, analysis of factors influencing the result of the enterprise’s functioning, identification of internal production reserves, economic justification investment projects.

2. Management accounting, the purpose of which is to provide a full range of actual, planned and forecast data on the characteristics of the functioning of the enterprise as an economic and production unit, including the provision of data on the enterprise as a whole, as well as in the context of structural and production divisions, responsibility centers.

3. Budgeting, the purpose of which is to provide the production and commercial process with the necessary financial resources both in structure and volume; increasing the efficiency of cash management of a modern enterprise. The functions and objectives of budgeting are: establishing budgeting objects, developing a budget system, calculating budget indicators, determining the required amount of monetary resources, calculating the amount of external and internal financing, identifying reserves for their additional attraction, forecasting income and expenses of the enterprise.

4. Controlling, its goal is to create a system for managing the current goals of the enterprise, making timely decisions to optimize the activities of the enterprise. The functions of controlling are: investment planning, financial planning, internal control, organizing information flows, coordinating business processes, developing recommendations for decision making.

5. Marketing, the purpose of which is to form the image of products (works, services) and the enterprise itself, to develop a distinctive advantage.

6. Logistics, its purpose is planning, organizing, managing and controlling the movement of material and information flows. .

1.3 Types of economic analysis

In analytical practice, various types of economic analysis are used depending on the timing, objects and subjects, the content of analytical programs and other characteristics. Table 1 presents the types of analysis in accordance with their classification criteria.

Table 1. Typology of types of applied economic analysis

The distinctive features of each type of analysis are: its target orientation and objectives; objects of research and sources of information; methodology. For example, the tasks of operational analysis are to track the magnitude of deviations from the normal course of activity; rapid identification of internal and external causes that caused deviations; assessing the current situation from the perspective of fulfilling external obligations; preparing options for management decisions depending on the parameters of deviations and the need for intervention by managers at different levels.

Operational analysis is largely focused on assessing the implementation of hourly, shift and daily tasks and, as a rule, is carried out according to a limited and periodically revised range of indicators and parameters in order to quickly respond to managers.

The following sources of information are used: primary and statistical accounting; operational accounting by responsibility and cost centers; taking into account changes in standards and deviations from them, if a standard method of cost accounting and calculation has actually been introduced; materials from direct observations of activities; conversations with department heads and performers; assessments of specialist experts, etc.

An independent type of operational analysis is selective express analysis.

Operational analysis closely corresponds with forecast analysis for a short period, for the remaining days of the month or quarter.

Forecast (strategic) analysis in modern conditions is of particular importance. Intensification of pre-production research, analytical and forecasting support occupy a leading place in the strategic management mechanism. Analytical and forecasting work is carried out in the following areas: marketing research; analysis of the situation in the company; analysis (scanning) of the external environment.

Marketing research includes the study of: trends in the development of demand and the formation of new needs among buyers; competitive positions of the company, etc.

Analysis of the situation in a company is associated with identifying problems and opportunities for using internal resources based on a comparison of the main characteristics of the company with the corresponding parameters of its main competitors; with research into problem areas for further management actions and developments.

Scanning the external environment includes: economic scanning (analysis of the dynamics of macroeconomic indicators, the economic and competitive situation in the industry, the situation in financial markets, etc.); technical scanning (changes in the course of scientific and technological competition, the emergence of fundamental innovations, unconventional use of known technologies, etc.); political scanning (assessment of the general political situation, the stability of governments, the system of state regulation of the economy, the stability and rationality of economic regulation of the economy; the effectiveness of economic legislation; the degree of political risk of investments in a given region, etc.).

As you can see, the target orientation and tasks of predictive analysis, the diversity of objects of its research are very complex. Among the methods of economic analysis used in forecasting, a significant role belongs to qualitative and substantive aspects, with the auxiliary role of quantitative methods of analysis.

Modern comparative analysis has a particularly effective direction - benchmarking, which is based on comparing the activities of not only competing enterprises, but also leading companies in other industries. The peculiarity of this type of analysis is that strategic planning is based not on tasks determined by what has been achieved, but on research into the most successful parameters both in its own industry and in other industries. The purpose of the comparative analysis is to optimize the economic strategy and develop measures to bridge the gap in the performance of one’s own business and leaders, aimed at obtaining the highest effect from innovations in economic activity.

Development of methodology and improvement of benchmarking as a special area strategic analysis will allow us to adopt a new philosophy for assessing the competitiveness of a business, when its highest level is associated with constant improvement of the best, with the ability to work ahead.

With the undoubted independent role of forecast analysis in the mechanism of strategic management, we must not forget that it is closely related to subsequent retrospective analysis. Strategic business management is impossible without using the results of retrospective analysis, the content and methodology of which are given much attention in subsequent chapters of the textbook.

Modern business is associated with the increasing role of this type of analysis as functional-cost analysis. Its basic principle is to study the functionality of objects of analysis and the costs of their implementation in order to minimize the latter while maintaining high quality of products, goods, works and services. This type of analysis is distinguished by the creative nature of analytical research, innovative thinking, and the widespread use of heuristic methods.

The commercial activities of organizations contribute to the widespread use of marginal analysis - the so-called CIR analysis (Cost-Volume-ProfitAnalysis), based on the study of the relationship and ratio of costs, volume and profit, dividing costs into fixed and variable. This sensitive analysis, widely used in foreign practice, makes it possible to manage business profits, optimize its parameters depending on deviations in the levels of volumetric indicators, specific variable costs, unit prices, etc.

In its infancy, from the point of view of the development of special methods, there is an analysis of commercial risks, which is of great practical importance, since the activities of organizations are carried out in conditions of uncertainty, in the presence of risky business situations.

2. Economic sustainability analysis

2.1 a brief description of OJSC « Irbit Chemical Pharmaceutical Plant"

Open Joint Stock Company "Irbit Chemical and Pharmaceutical Plant" was created in accordance with Federal law“On Joint Stock Companies”, the Civil Code of the Russian Federation and other current legislative legal acts of the Russian Federation as a result of the privatization of the leased enterprise “Irbit Chemical and Pharmaceutical Plant” and is its full legal successor. The Company is a commercial organization.

OJSC “Irbit Chemical Farm Plant” is a legal entity and owns separate property, which is accounted for on its independent balance sheet; it can, in its own name, acquire and exercise property and non-property rights, bear responsibilities, and be a plaintiff and defendant in court.

The Company has civil rights and bears the responsibilities necessary to carry out any types of activities not prohibited by federal laws.

The company has a round seal containing its full name in Russian and an indication of its location.

The company has stamps and forms with its name, its own emblem and other means of visual identification. The company has its own brand name.

OJSC Irbit Chemical and Pharmaceutical Plant was founded in 1942 on the basis of the Akrikhin plant near Moscow, which was evacuated to the Urals.

For more than half a century, the Irbit Chemical and Pharmaceutical Plant was known as a manufacturer of substances. Since 1991 The company founded the production of finished dosage forms. To date, the release of tablets medicines is dominant and occupies 78% of the plant's volume. The enterprise operates two production workshops: a tableting workshop (PT) and an organic synthesis chemistry production workshop (OCS).

The number of employees at Irbit Chemical Pharmaceutical Plant OJSC is 929 people.

The nomenclature includes drugs from the list of “Life-Saving Medicines”. The plant's products are certified in all respects. Today the company supplies to more than 300 wholesale companies in the Russian Federation and the CIS countries.

Currently, the company produces finished dosage forms - more than 60 types of tablets (coated tablets, enteric-coated tablets), 16 types of tinctures and alcohol solutions, and also synthesizes 19 pharmaceutical substances for its own production of finished dosage forms and for sale.

The enterprise’s right to produce, store and distribute medicines is confirmed by a license.

The main goal of Irbit Chemical Pharmaceutical Plant OJSC is to make a profit through the sale of medicines and other activities.

The types of activities engaged in by JSC Irbit Chemical Pharmaceutical Plant are:

· production of medicines;

· production of other pharmaceutical products and medical devices;

· production of basic pharmaceutical products;

· wholesale trade in pharmaceutical and medical goods;

· storage and warehousing;

· activities of the canteen at OJSC “Irbit Chemical Pharmaceutical Plant”;

· transportation of goods by all types of transport, including international transportation, both on our own and on attracted vehicles;

· export-import operations and other foreign economic activities in accordance with current legislation.

2.2 Analysis and assessment of balance

2.2.1 Vertical balance sheet analysis

To determine the structure of the final financial indicators, we will conduct a vertical analysis of the balance sheet of OJSC IHFZ for 3 years. Such an action will allow us to identify the influence of individual parts of the balance sheet on the final result of the activity. To do this, we will determine the proportion of individual articles in the overall structure. The final results are shown in Table 4.

Table 4. Vertical balance sheet analysis

In the structure of assets of the balance sheet of OJSC Irbitsky Chemical Pharmaceutical Plant, a significant share belongs to current assets. In 2011, the share of current assets was 84.77% of the total assets, and the share of non-current assets was 15.23%. But over time, there is a decrease in current assets and an increase in non-current assets. Thus, in 2013, the share of non-current assets is already 28.42%. The increase in the share of non-current assets is due to a significant increase in fixed assets, so in 2009 fixed assets amounted to 13.52%, in 2012 already 27.03%, and in 2013 - 28.42%. The increase in the share of fixed assets in the balance sheet structure indicates that the enterprise has high overhead costs and Irbit Chemical Pharmaceutical Plant OJSC is sensitive to changes in revenue. In order for JSC IHFZ to maintain its financial stability in the future, it is necessary that the share of equity capital in the sources of financing be high.

Current assets also include inventories; the following trend is observed at Irbit Chemical Pharmaceutical Plant OJSC: in 2011 the share of inventories is 45.33%, in 2012 - 42.29%, but in 2013 there is an increase in inventories by 35962 thousand rubles. and is 49.70%. The growth of inventories can be assessed positively if there is an increase in production volume, which is what is happening at the enterprise in question.

The balance sheet liabilities consist of the following items: capital and reserves, long-term liabilities and short-term liabilities.

In 2011, the largest share was accounted for by short-term liabilities - 55.98%. In 2012, capital and reserves had the largest share - 47.87%. In 2013, this trend continues: the capital and reserves item is growing and amounts to 56.36%. The increase in capital and reserves occurs due to the growth of retained earnings: from 26.01% in 2011 to 45.40% in 2013, in turn, the growth of retained earnings indicates the effective operation of the enterprise.

At JSC IHFZ, there is an increase in long-term liabilities from 4.36% in 2011 to 19.01% in 2013. The increase in long-term liabilities occurs due to an increase in borrowed funds; if in 2011 there were no borrowed funds at the enterprise, then in 2012 they amounted to 64,573 thousand rubles. or 10.02%, and in 2013 their share increased to 16.32% or 101,338 thousand rubles.

At the Irbit Chemical Pharmaceutical Plant there is a decrease in short-term liabilities; in 2011 they amounted to 278,958 thousand rubles. or 55.98%, in 2012 - 38.35% or 247,174 thousand rubles, and in 2013 - 24.63% or 152,916 thousand rubles. At the same time, the decrease occurs due to a decrease in borrowed funds from 32,029 thousand rubles. in 2011 to zero in 2013. Accounts payable also decreases from 246,629 thousand rubles. in 2011 to 152916 thousand rubles. in 2013. It can be concluded that at Irbit Chemical Pharmaceutical Plant OJSC the share of short-term borrowed funds is decreasing and the share of long-term borrowed funds is increasing.

2.2.2 Horizontal balance sheet analysis

When conducting a horizontal analysis of the balance sheet, each item in an item today is compared with data from previous periods, and it becomes possible to identify the dynamics of reporting indicators over time. To do this, when conducting horizontal analysis, balance sheet data for a certain date (reference base) is taken as 100%, then dynamic series of balance sheet items and sections are constructed as a percentage of their base values.

A horizontal analysis of the organization’s balance sheet is presented in Table 5.

Table 5. Horizontal balance sheet analysis

Let's look at the data in Table 5. According to these data, the amount of funding sources at the beginning of 2012 increased compared to 2011 by 146,289 thousand rubles. (by 29.36%), and at the beginning of 2013 decreased by 23,738 thousand rubles. (by 3.68%). This is due to the fact that in 2012 non-current assets increased significantly by 103,635 thousand rubles. (by 136.55%) and retained earnings - by 110,954 thousand rubles. (85.59%) compared to 2011. The decrease in sources of financing in 2013 is due to a decrease in accounts receivable; if in 2012 the decrease in accounts receivable was 2.49%, then in 2013 the decrease in accounts receivable was 29 .78% or 55576 thousand rubles.

Fixed assets also changed significantly: in 2012, compared to 2011, fixed assets grew by 158.63% or 106,885 thousand rubles, but in 2013, fixed assets increased by only 2,183 or 1.25%.

There is a downward trend in financial investments at the Irbit Chemical Pharmaceutical Plant; in 2012, compared to 2011, they decreased by 3,250 thousand rubles. (by 38.18%), and in 2013 there were no financial investments.

Current assets at the enterprise in 2012 compared to 2011 increased by 42,654 thousand rubles. or by 10.10%. But in 2013, current assets, as well as non-current assets, decreased by 20,659 thousand rubles. or by 4.44%. The decrease in current assets is associated with a significant decrease in accounts receivable.

There is an increase in capital and reserves; in 2012 they increased by 110,954 thousand rubles. or 56.14%, in 2013 compared to 2012, capital and reserves increased by 41,309 thousand rubles. or by 13.39%. Capital and reserves increase due to the growth of retained earnings: in 2012, compared to 2011, retained earnings increased by 110,954 thousand rubles. or 85.59%, and in 2013 retained earnings increased by 41,309 thousand rubles. or 17.17%.

Long-term liabilities at the enterprise are also growing: in 2012 they increased by 67,015 thousand rubles. or 308.71%; in 2013, long-term liabilities increased by 29,315 thousand rubles. or by 33.04%. The increase in long-term liabilities is primarily due to the appearance of borrowed funds in 2012.

Short-term liabilities at the enterprise, on the contrary, tend to decrease: in 2012, compared to 2011, there was a decrease of 31,784 thousand rubles. or 11.39%, in 2013 compared to 2012, short-term liabilities decreased by 94,258 thousand rubles. or by 38.13%. This is due to the fact that borrowed funds are decreasing, in 2013 they were equal to zero, and accounts payable are also decreasing.

2.2.3 Comparative analysis balance

Based on the horizontal and vertical balance sheet analyses, you can easily build a comparative analytical balance sheet, which will reflect the indicators of three groups:

· balance sheet structure indicators,

indicators of balance dynamics,

· indicators of the structural dynamics of the balance sheet.

To carry out such a comparative analysis, we will build a table that will reflect the data from tables 4 and 5, taking December 31, 2011 as the beginning of the period, and the end of the period will be December 31, 2013. The comparative analysis is presented in table 6.

Table 6. Comparative balance sheet analysis

A comparative analysis of the balance sheet of OJSC IHFZ shows that during the period from 2011 to 2013, the balance sheet of the enterprise increased by 122,551 thousand rubles. During this period, the share of non-current assets increased. At the beginning of the periods, non-current assets accounted for 15.23% in the balance sheet structure, at the end of the period - 28.42%. The growth of non-current assets is associated with the growth of fixed assets, fixed assets changed their value by 109,068 thousand rubles, but at the end of the period there was a lack of financial investments at Irbit Chemical Pharmaceutical Plant OJSC. The growth of non-current assets is due to the fact that the company has been renovating old premises for the production of medicines in these years.

Current assets for 2013 increased and in absolute terms the increase amounted to 21,995 thousand rubles. At the same time, the share of current assets in the balance sheet structure decreased by 13.19%. The decrease in the specific share of current assets is associated with a decrease in accounts receivable by 60,346 thousand rubles. or by 17.3%. A decrease in accounts receivable indicates a decrease in the amount of debts owed by debtors to the enterprise.

A comparative analysis shows an increase in capital and reserves by 152,263 thousand rubles. The growth is associated with an increase in retained earnings - by 152,263 thousand rubles.

At Irbit Chemical Pharmaceutical Plant OJSC, long-term liabilities are increasing and short-term liabilities are decreasing, which indicates the implementation of a competent credit policy at the enterprise.

2.3 Analysis of financial activities by the method of financial ratios

Financial stability is understood as a state of an enterprise in which solvency is constant over time, and the ratio of equity and debt capital ensures this solvency. To assess financial stability, a system of coefficients is used.

The financial condition of an enterprise is determined by its balance sheet indicators with the involvement of other reporting materials.

The financial stability of an enterprise is determined in two directions:

1) availability and sufficiency of equity capital;

2) the degree of coverage of reserves by sources of funds.

The main ratios by which the financial stability of an enterprise is determined are:

· capitalization ratio,

· coefficient of availability of own sources of financing,

· financial independence ratio,

· financing ratio,

· financial stability coefficient.

The capitalization ratio (financial leverage) shows how much borrowed funds an organization has attracted per 1 ruble of its own funds invested in assets:

U 1 =Kloan. / Ksobst.=(page 1400 + page 1500) / page 1300 (1)

U 1 - not higher than 1.5

U 1 2011 = (21708+278958) / 197647 = 1.52

U 1 2012 = (88723 + 247174) / 308601 = 1.09

U 1 2013 = (118038 + 152916) / 349910 = 0.77

The ratio of availability of own sources of financing shows what part of current assets is financed from own sources:

U 2 = (Ksobst. - ExOb.A) / Vol.A = (page 1300 - page 1100) / page 1200 (2)

Optimally U 2? 0.5

U 2 2011 = (197647 - 75894) / 422419 = 0.29

U 2 2012 = (308601 - 179529) / 465073 = 0.28

U 2 2013 = (349910 - 176450) / 444414 = 0.39

The financial independence ratio shows the share of own funds in the total amount of funding sources:

U 3 =Kownst. / Currency balance = line 1300 / line 1700 (3)

U 3 2011 = 197647 / 498313 = 0.40

U 3 2012 = 308601 / 644602 = 0.48

U 3 2013 = 349910 / 620864 = 0.56

The financing ratio shows which part of the activity is financed from own funds and which from borrowed funds:

U 4 = Ksobst. / Borrow = line 1300 / (line 1400 + line 1500) (4)

U 4 ? 0.7, optimal? 1.5

U 4 2011 = 197647 / (21708+278958) = 197647 / 300666 = 0.66

U 4 2012 = 308601 / (88723+247174) = 308601 / 335897 = 0.92

U 4 2013 = 349910 / (118038+152916) = 349910 / 270954 = 1.29

The financial sustainability ratio shows how much of the asset is financed from sustainable sources:

U 5 = (Cobst + Debt. Liabilities) / Balance sheet currency = (line 1300 + line 1400) / line 1700 (5)

U 5 2011 = (197647 + 21708) / 498313 = 219355 / 498313 = 0.44

U 5 2012 = (308601 + 88723) / 644602 = 397324 / 644602 =0.62

U 5 2013 = (349910 + 118038) / 620864 = 467948 / 620864 = 0.75

Changes in the financial stability indicators of Irbit Chemical Pharmaceutical Plant OJSC from 2011 to 2013 are presented in Table 7.

Table 7. Changes in financial stability indicators

Let's consider the dynamics of financial stability indicators at Irbitsky Chemical Pharmaceutical Plant OJSC. Over the indicated periods, according to Table 6, it is clear that the capital structure has changed: the share of equity capital increases, and the share of borrowed capital decreases.

The capitalization ratio has an optimal value of no higher than 1.5. If in 2011 the capitalization ratio exceeded the optimal value and was equal to 1.52, then in 2012 it decreases and is already 1.09, this trend continues in 2013. The capitalization ratio for 2013 is already 0, 77. A decrease in the capitalization ratio indicates, first of all, an increase in the financial stability of the enterprise due to the decrease in the organization’s dependence on borrowed capital. In world practice, the value of this indicator is considered normal to be less than or equal to one, which is what happened in 2013.

Figure 1 - Change in capitalization ratio

The coefficient of provision with own sources of financing in 2011 was 0.29, in 2012 the coefficient decreased slightly and amounted to 0.28, in 2013 the coefficient of security with own sources of financing increased by 0.11 and amounted to 0.39. But the optimal value of this coefficient is considered to be greater than or equal to 0.5, which is not observed in the analyzed periods. Therefore, although in 2013 this ratio increased, we can still talk about a lack of own funds to finance current assets. The change in the ratio of availability of own sources of financing is shown in Figure 2.

Figure 2 - Change in the ratio of availability of own sources of financing

The financial independence coefficient for 2011 is 0.40, in 2012 the coefficient grows and amounts to 0.48, this trend continues in 2013, the coefficient increases by 0.08 and amounts to 0.56. In all analyzed periods, the coefficient of financial independence fits into the optimal values, which indicates the sufficiency of the share of own funds in the total amount of financing sources. But if the growth trend continues, then the coefficient of financial independence may already in 2014 go beyond the upper limit of optimal values ​​of 0.6, which will indicate that the enterprise’s own funds have a significant share in the total amount of financing sources, which indicates insufficient thoughtful policy for the use of borrowed funds. The dynamics of the financial independence ratio are shown in Figure 3.

Figure 3 - Change in the financial independence ratio

The financing ratio for the analyzed periods increases, so in 2011 it amounted to 0.66, in 2012 it increased by 0.26 and amounted to 0.92, in 2013 the financing ratio increased by 0.37 and amounted to 1.29 . The stable growth of the financing ratio suggests that if in 2011 OJSC IHFZ mainly used borrowed funds to finance its activities, then in 2012 and 2013 there is an increase in equity capital, which the company uses to finance its activities. In the future, if the financing ratio also grows steadily in 2014, it will reach its optimal value of 1.5. Change in funding ratio for 2011-213. shown in Figure 4.

Figure 4 - Change in financing ratio

The financial stability coefficient in 2011 was 0.44, which is below the optimal value of 0.6 and indicates a lack of share of those sources of financing that the enterprise can use in its activities for a long time. But already in 2012, the financial stability coefficient increases by 0.18 and amounts to 0.62; in 2013, the upward trend in the coefficient continues, it increases by 0.13 and amounts to 0.75. Values ​​of the financial stability coefficient for 2012 and 2013. fit into the optimal values ​​and indicate that the Irbit Chemical Pharmaceutical Plant is experiencing a steady increase in sustainable sources of financing, namely its own funds, medium- and long-term liabilities.

Figure 5 - Change in financial stability ratio

2.4 Solvency and liquidity analysis

Balance sheet liquidity means the degree to which liabilities are covered by its assets, the period of transformation of which into monetary form corresponds to the period of repayment of liabilities.

Asset liquidity is the inverse value of balance sheet liquidity based on the time of transformation of assets into cash. The less time it takes for a given type of asset to acquire monetary form, the higher its liquidity.

Liquidity of an economic entity is a more general concept than balance sheet liquidity. Balance sheet liquidity presupposes the search for funds from internal sources (sale of assets), but an economic entity can attract borrowed funds subject to its creditworthiness, high level investment attractiveness and corresponding image.

Solvency depends on the degree of balance sheet liquidity. At the same time, liquidity characterizes both the current state of settlements and prospects.

An enterprise may have solvency at the reporting date and at the same time have unfavorable opportunities in the future and vice versa.

Balance sheet liquidity is the basis of the solvency and liquidity of an economic entity. Liquidity is a way of maintaining solvency.

Depending on the degree of liquidity, assets can be divided into the following groups:

· The most liquid assets: A1 = Short-term financial investments + cash

· Quickly realizable assets: A2 = Accounts receivable

· Slow moving assets: A3 = Inventories

· Hard to sell assets: A4 = Non-current assets.

Balance sheet liabilities are grouped according to the degree of urgency of their payment:

· Most urgent obligations: P1 = Accounts payable

· Short-term liabilities: P2 = Short-term liabilities

· Long-term liabilities: PL = Long-term liabilities

· Permanent, or stable, liabilities: P4 = Own capital.

In order to determine the liquidity of the balance sheet of the Irbit Chemical Pharmaceutical Plant, it is necessary to compare the results of the above groups for assets and liabilities. An organization is considered liquid if it current assets exceed its short-term liabilities. The actual degree of liquidity and solvency can be determined based on the liquidity of the balance sheet. The balance is considered absolutely liquid if the following ratio is satisfied: A1>=P1; A2>=P2; AZ>=PZ; A4>=P4. Let us summarize the results obtained in Table 8.

Table 8. Balance sheet liquidity assessment

According to the data presented in Table 8, it is clear that of the four conditions for balance sheet liquidity, only 3 and 4 are met, i.e. The balance sheet of OJSC Irbitsky Chemical Pharmaceutical Plant is not absolutely liquid. At the enterprise, accounts payable for all periods exceed the amount of the most liquid assets and short-term liabilities also for all periods exceed the amount of quickly realizable assets.

To further assess the liquidity and solvency of the enterprise, we calculate the following indicators:

general liquidity ratio,

· absolute liquidity ratio,

· current liquidity ratio,

· coefficient of maneuverability of operating capital,

· share of working capital in assets,

· equity ratio.

The general solvency indicator is used to comprehensively assess the liquidity of the balance sheet as a whole. Using this indicator, changes in the financial situation in the organization are assessed from the point of view of liquidity.

L 1 = (A 1 + 0.5 A 2 + 0.3 A 3) / (P 1 + 0.5 P 2 + 0.3 P 3) (6)

L 1 2011 = (200+0.5*191416+0.3*225897) / (246929+0.5*278958+0.3*21708) = 0.42

L 1 2012 =(2174+0.5*186646+0.3*272580) / (247174+0.5*247174+0.3*88723) = 0.45

L 1 2013 =(2928+0.5*131070+0.3*308542) / (152916+0.5*152916+ 0.3 * *118038) = 62975.20/94836.40 = 0.6

The dynamics of the general solvency indicator are presented in Figure 6.

Figure 6 - Dynamics of the general solvency indicator

The calculations performed show that the balance sheet of OJSC IHFZ cannot be considered liquid, since the obtained values ​​are lower than recommended. But at the same time, the situation at the enterprise is improving, as the overall solvency indicator is increasing.

The absolute liquidity ratio shows what part of the current short-term debt the organization can repay in the near future using cash and equivalent financial investments. It is the most stringent criterion for the liquidity of an enterprise.

L 2 = cash/TO=str. 1250/(page 1510 + page 1520) (7)

L2? 0.1 + 0.7 (depending on industry)

L 2 2011 = 200 / (32029 + 246929) = 200/278958 = 0.00071

L 2 2012 = 2174/ (104 + 247174) = 2174/247278 = 0.00879

L 2 2013 = 2928 / (0 + 152916) = 2928/152916 = 0.01914

The dynamics of the absolute liquidity ratio are presented in Figure 7.

Figure 7 - Dynamics of the absolute liquidity ratio

The absolute liquidity ratio for all periods does not satisfy the optimal values, because for all specified periods it is less than the recommended values, which means that the Irbit Chemical Pharmaceutical Plant can repay only a small part of the current short-term debt in the near future using cash and equivalent financial investments. But at the same time, the company is experiencing a situation of increasing current liquidity ratio, which is a positive trend.

The current liquidity ratio characterizes the overall provision of an enterprise with working capital for conducting business activities and timely repayment of the enterprise's urgent obligations. Shows what part of current obligations on loans and payments can be repaid by mobilizing all current assets; therefore, if current assets exceed current liabilities in size, the organization can be considered as successfully functioning (at least in theory). Its reasonable growth in dynamics is usually considered a favorable trend.

L 3 =ObA/TO = page 1200/(page 1510 + page 1520) (8)

Required value 1.5; optimal L 4 ? 2.0 - 3.5

L 3 2011 = 422419/278958 = 1.51

L 3 2012 = 465073 / 247278 = 1.88

L 3 2013 = 444414 / 152916 = 2.9

The dynamics of the current ratio are shown in Figure 8.

Figure 8 - Dynamics of the current liquidity ratio

The current liquidity ratio in all periods has the required value, which indicates that Irbit Chemical Pharmaceutical Plant OJSC is provided with working capital for conducting business activities and timely repayment of the enterprise's urgent obligations. At the same time, the current liquidity ratio is growing, so in 2011 it was equal to 1.51, in 2012 - 1.88, and in 2013 - 2.9. The growth of this ratio shows a positive trend, since in 2013 the current liquidity ratio already has an optimal value.

The operating capital maneuverability coefficient shows what part of the operating capital is immobilized in inventories and long-term receivables.

L 4 = Slowly implemented A / (OBA - Current Obligation) = (p. 1210 + p. 1220 + p. 1230) / (p. 1200 - (p. 1510 + p. 1520)) (9)

A decrease in the indicator in dynamics is a positive factor.

L 4 2011 = (225897 + 4906 + 191416) / (422419 - 32029 - 246929) = 2.94

L 4 2012 = (272580 + 3673 + 186646) / (465073 - 104 - 247174) = 2.12

L 4 2013 = (308542 + 1874 + 131070) / (444414 - 0 - 152916) = 1.51

The dynamics of the operating capital maneuverability coefficient are shown in Figure 9.

Figure 9 - Dynamics of the operating capital maneuverability coefficient

The agility coefficient of operating capital at the enterprise is decreasing, which indicates a positive trend.

The share of working capital in assets characterizes the share of own working capital in the total amount of economic assets.

L 5 = ObA / Currency balance = line 1200 / line 1600 (10)

L 5 2011 = 422419 / 498313 = 0.847

L 5 2012 = 465073 / 644602 = 0.721

L 5 2013 = 444414 / 620864 = 0.715

The dynamics of the share of working capital in assets is shown in Figure 10.

Figure 10 - Dynamics of the share of working capital in assets

The share of own working capital in the total amount of economic assets is decreasing, this is due to a more significant decrease in accounts receivable than an increase in inventories.

The equity ratio characterizes the availability of the enterprise's own working capital necessary for its activities. A value of this coefficient of less than 0.1 gives grounds for recognizing the balance sheet structure as unsatisfactory and the organization as insolvent.

L 6 = (Cap.own.-OutAbA)/ObA=(p. 1300 - p. 1100)/p. 1200 (11)

Similar documents

Methods for managing the competitiveness of an enterprise, its assessment using the example of Ultra-Omsk LLC. Analysis of the competitive position of the enterprise. Development of measures to increase competitiveness, analysis of the economic efficiency of their implementation.

thesis, added 12/26/2013


Analysis of the structure of assets and liabilities of the balance sheet. Assessment of the financial stability of the enterprise, its liquidity and solvency, business activity and financial results. Forecasting the possible bankruptcy of an enterprise using E. Altman's model.

course work, added 01/05/2014


Theory of analysis of solvency and financial stability of an enterprise. Assessing the solvency and liquidity of the company's balance sheet. Analysis of the financial stability of a commercial organization. Ratio, three-component analysis of financial stability.

course work, added 05/20/2009


Determination of factors influencing the image of the organization, their quantitative assessment. Development of a plan of organizational and technical measures to improve the image of the organization. Social and psychological climate in the team, material security of employees.

test, added 06/14/2010


course work, added 03/27/2013


Specifics of the development of tourism organizations in Russia and abroad. Features of competitiveness in the tourism sector. Assessing the competitiveness of tourism organizations CJSC Sputnik and LLC Kotres, developing ways and measures to improve it.

course work, added 03/11/2011


The concept of crisis management, analysis of world and Russian experience. Assessment of the competitiveness, solvency, profitability, financial stability and business activity of the enterprise. Development of strategic and operational controlling.

thesis, added 08/10/2015


Development strategy as an effective direction for the development of a public catering enterprise. Improving advertising and personnel policies. Development of proposals and recommendations to improve the effectiveness of strategic management of the organization.

thesis, added 08/28/2014


Theoretical aspects of anti-crisis enterprise management. Analysis of the composition, structure of property and sources of its formation. Assessment of liquidity, solvency, financial stability, profitability of the enterprise. Methods for diagnosing bankruptcy.

thesis, added 08/23/2010


Methods of managing personnel of an organization. Analysis of the personnel management system in an organization using the example of Vertical LLC. Assessment of labor resources. Identification of problems in the enterprise's personnel policy and development of measures to improve its effectiveness.

home » Investments » Measures to improve economic sustainability. Economic sustainability of the enterprise. The essence of economic sustainability